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P10-1 Payback period Quick Profit Entity is considering a capital expenditure that requires an initial investment of $84,000 and returns after-tax cash inflows of $7,000

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P10-1 Payback period Quick Profit Entity is considering a capital expenditure that requires an initial investment of $84,000 and returns after-tax cash inflows of $7,000 per year for 20 years. The firm has a maximum acceptable payback period of 8 years. a. Determine the payback period for this project. b. Should Quick Profit accept the project? Explain

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