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A machine can be purchased for $70,000 and used for five years, yielding the following...

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Accounting

A machine can be purchased for $70,000 and used for five years, yielding the following income. This income computation includes annual depreciation expense of $14,000. Year 1 Year 2 Year 3 Year 4 Year 5 Income $4,600 $11,600 $34,000 $17,300 $46,400 Compute the machines payback period. (Round payback period answer to 2 decimal places.)

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