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Flounder Growth Farms, a farming cooperative, is considering purchasing a tractor for $559,150. The machine has a 10 -year life and an estimated salvage value

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Flounder Growth Farms, a farming cooperative, is considering purchasing a tractor for $559,150. The machine has a 10 -year life and an estimated salvage value of $42,000. Dellvery costs and set-up charges will be $12,700 and $410, respectively. Flounder Growth uses straight-line depreciation and has a required rate of return of 9% Flounder Growth estimates that the tractor will be used five times a week with the average charge to the individual farmers of $410. Fuel is $55 for each use of the tractor. The present value of an annuity of 1 for 10 years at 9 is 6.41766. Click here to view PV tables. For the new tractor, compute the: (a) Cash payback period. (Round answer to 1 decimol pleces, es. 15.2) Cash payback period years

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