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Rubicon company is considering investing in new equipment that will cost $500,000 with a useful-life of 5 years. The new equipment is expected to produce

Rubicon company is considering investing in new equipment that will cost $500,000 with a useful-life of 5 years. The new equipment is expected to produce annual cost savings of $190,000 for the first two years and $220,000 for the last three years of its useful life.

compute the cash payback period:

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