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Sheridan Company is considering purchasing new equipment for $397,800. It is expected that the equipment will produce net annual cash flows of $51,000 over its

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Sheridan Company is considering purchasing new equipment for $397,800. It is expected that the equipment will produce net annual cash flows of $51,000 over its 10 -year useful life. Annual depreciation will be $39,780. Compute the cash payback period. (Round answer to 1 decimal place, eg. 10.5.) Cash payback period years

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