Nancy is considering buying 200 acres of land for $2,000,000, she expects to lease the...
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Accounting
Nancy is considering buying 200 acres of land for $2,000,000, she expects to lease the land to a farmer which will result in profits of $175,000 in the first year. $500,000 for the next two years, and $550,000 in years 4 through 7. What are the payback period and the discounted payback period on the investment if Nancy's required rate of return is 12%
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