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Mora Corporation is evaluating the purchase of a new piece of equipment. The equipment has an initial investment of $60,000. The annual net cash flows

Mora Corporation is evaluating the purchase of a new piece of equipment. The equipment has an initial investment of $60,000. The annual net cash flows over the equipment's 7-year life are estimated to be as follows: Year Annual Net Cash Flow

Year 1 $5,000

Year 2 $10,000

Year 3 $15,000

Year 4 $30,000

Year 5 $50,000

Year 6 $10,000

Year 7 $10,000

What is the cash payback period? Group of answer choices

A. 7 years B. 5 years C. 4 years D. 6 years E. 3 years

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