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Brief Exercise 12-1 Rihanna Company is considering purchasing new equipment for $527,000. It is expected...

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Brief Exercise 12-1 Rihanna Company is considering purchasing new equipment for $527,000. It is expected that the equipment will produce net annual cash flows of $62,000 over its 10-year useful life. Annual depreciation will be $52,700. Compute the cash payback period. (Round answer to 1 decimal place, e.g. 10.5.) Cash payback period years

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