View Policies Current Attempt in Progress Monty Company is considering investing in new equipment that will cost $1,419,000 with a 10-year useful life. The new equipment is expected to produce annual net income of $58,000 over its useful life. Depreciation expense, using the straight-line rate, is $141,900 per year. Compute the cash payback period. (Round answer to 1 decimal place, e.g. 15.2.) Cash payback period Save for Later years Attempts: 0 of 1 used Submit Answer

Monty Company is considering investing in new equipment that will cost $1,419,000 with a 10 -year useful life. The new equipment is expected to produce annual net income of $58,000 over its useful life. Depreciation experise, using the straight-line rate, is $141,900 peryear. Compute the cash payback period. (Round answer to 1 decimal place, es. 15.2.) Cashpayback period years