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A logistics firm is planning to acquire a winching machine which costs $85000 having life span of 6 years. It is estimated that this

A logistics firm is planning to acquire a winching machine which costs $85000 having life span of 6 years. It is estimated that this winching machine will save around $20000 annually in labor costs. After the useful life span of the machine it can be sold for $10000 as a scrap. MARR for the firm is 10% .Find the payback period of the investment ?

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