Your 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 expense, using the straight$-$line rate, is $$141,900$ per year.

Compute the cash payback period. $($Round answer to $1$ decimal place, e$.$g$.15\mathrm{.}2.)$

Cash payback period years

eTextbook and Media