Pepe's Paletas is considering the purchase of a small ice cream cart for $4,300. Pepe...
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Finance
Pepe's Paletas is considering the purchase of a small ice cream cart for $4,300. Pepe expects sales to be $3,500 a year for five years. After the five years, the cart's cooling system is expected to give out and the cart will be worthless. What is the payback period of the ice cream cart?
A) 1.23 years
B) 6.14 years
C) 4.07 years
D) 0.25 years
E) 0.81 years
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