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Nelson Corp is considering the purchase of a new piece of equipment. The cost savings...

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Accounting

Nelson Corp is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annual increase in cash flow of $101,000. The equipment will have an initial cost of $303,000 and have a 4 year life. If the salvage value of the equipment is estimated to be $76,000, what is the payback period? Ignore income taxes

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