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Hospital plans to purchase cath lab equipment with a cost of $735,000. Useful life is 15 years. Annual profits are expected to be $100,000 each

Hospital plans to purchase cath lab equipment with a cost of $735,000. Useful life is 15 years. Annual profits are expected to be $100,000 each year.

calculate

1. Average Payback Period

2. Average Rate of Return

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