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Mikes Camping Supply is considering the purchase of new equipment for $750,000. The equipment will allow the company to generate additional cash revenues of $180,000
Mikes Camping Supply is considering the purchase of new equipment for $750,000. The equipment will allow the company to generate additional cash revenues of $180,000 each year. The company will incur total expenses of $64,000 from the machine each year, including $7,000 related to depreciation. Calculate the cash payback period, rounding answer to two decimal places.
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