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TQM Upgrade cost Cost Savings Material $14000 $53515 11.80% Labor $6000 $41022 14% Admin $4500 $3130 60% Calculate the payback period for each of the
| TQM Upgrade cost | Cost | Savings | |
| Material | $14000 | $53515 | 11.80% |
| Labor | $6000 | $41022 | 14% |
| Admin | $4500 | $3130 | 60% |
Calculate the payback period for each of the investments above (material costs, labor costs, admin costs). For example, material cost is $53515 and you invest $14000 in TQM for a 11.80% savings. What is the payback period?
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