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The net initial investment for a piece of construction equipment is? $3,000,000. Annual cash inflows are expected to increase by? $500,000 per year. The equipment

The net initial investment for a piece of construction equipment is? $3,000,000. Annual cash inflows are expected to increase by? $500,000 per year. The equipment has an

8?year useful life. What is the payback? period?

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