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(Ignore income taxes in this problem.) The following information is available on a new piece of equipment: Cost of the equipment................................. $21,720 Salvage value.............................................. $0
(Ignore income taxes in this problem.) The following information is available on a new piece of equipment: Cost of the equipment................................. $21,720 Salvage value.............................................. $0 Annual Cash inflows..................................... $5,000 Internal rate of return................................. 16% Required rate of return................................ 10% The life of the equipment is approximately (show your work)
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