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Kingbird Corp. is considering the purchase of a piece of equipment that costs $15000. Projected net annual cash flows over the projects life are: Year

Kingbird Corp. is considering the purchase of a piece of equipment that costs $15000. Projected net annual cash flows over the projects life are:

Year Net Annual Cash Flow

1 $8000

2 6000

3 25000

4 9000

The cash payback period is

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