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McLovin Inc. disposes of other companies toxic waste. Currently, Jackson loads the waste by hand into a truck, which requires labor of $20 per load.
McLovin Inc. disposes of other companies toxic waste. Currently, Jackson loads the waste by hand into a truck, which requires labor of $20 per load. They are considering a machine that would reduce the amount of time needed to load the waste. The machine would cost $200,000 but would reduce labor costs to $5 per load. Assume that Jackson averages 10,000 loads per year. How many years (rounded to 2 decimal places) would it take for Jackson to recover the cost of the new machine?
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