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Preston Co. is considering acquiring a manufacturing plant. The purchase price is $1,100,000. The owners believe the plarnt will generate net cash inflows of $325,000

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Preston Co. is considering acquiring a manufacturing plant. The purchase price is $1,100,000. The owners believe the plarnt will generate net cash inflows of $325,000 annuatly. It will have to be replaced in six years. Use the payback method to delermine whether Preston should purchase this plant. Round to one decimal place

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