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Concrete Corp plans on buying a new mixer at a cost of $150,000. The after...

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Accounting

Concrete Corp plans on buying a new mixer at a cost of $150,000. The after tax benefit from this investment will be $23,000 each year for the next 12 years. What is the payback period of this investment discounted at an interest rate of 4.5%? (Round to one decimal place)

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