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McDonald's Corporation is considering renovating its existing restaurant locations to enhance customer experience. The renovation project is estimated to cost $2 million per location, and
McDonald's Corporation is considering renovating its existing restaurant locations to enhance customer experience. The renovation project is estimated to cost $2 million per location, and McDonald's plans to renovate 100 locations. Once renovated, the company expects an increase in annual revenues of $500,000 per location. Calculate the payback period for McDonald's renovation project.
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