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Wright Corp. is considering the purchase of a new piece of equipment, which would have an initial cost of $1,000,000 and a 5 -year life.

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Wright Corp. is considering the purchase of a new piece of equipment, which would have an initial cost of $1,000,000 and a 5 -year life. There is no salvage value for the equipment. The increase in cash flow each year of the equipment's Ife would be as follows: What is the paybock period? Muhiple Choict 2.20 year 27 years 2.81 years

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