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Kathleen Dancewear Co, has bought some new machinery at a cost of $24,500. The impact of the new machinery will be felt in the additional

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Kathleen Dancewear Co, has bought some new machinery at a cost of $24,500. The impact of the new machinery will be felt in the additional annual cash flows of $8,400 over the next 7 years. What is the payback period for this project? a. 3.11 b. 2.67 C. 2.92 d. 3.34

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