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Culver Company is considering investing in new equipment that will cost $1.428,000 with a 10...

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Accounting

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Culver Company is considering investing in new equipment that will cost $1.428,000 with a 10 -year useful life. The new equipment is expected to produce annual net income of $35.700 over its useful life. Depreciation expense, using the straight-line rate, is $142,800 peryear. Compute the cash payback period, (Round answer to 1 decimal place, eg. 15.2.) Cashpaybackperiod years

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