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Light Company is considering purchasing a machine that would cost $578,800 and have a useful life of 5 years. The company estimates an annual

Light Company is considering purchasing a machine that would cost $578,800 and have a useful life of 5 years. The company estimates an annual net operating income of $115,000 including depreciation of 8,000. The machine would have no salvage value. Required: a. Compute the payback period for the machine

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