QUESTION 8 Equipment was purchased for $144,000 and it is estimated to have...
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Accounting
QUESTION 8
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Equipment was purchased for $144,000 and it is estimated to have a $14,000 salvage value at the end of its estimated 8-year life. The equipment is estimated to generate cash inflows of $24,000 each year and will be depreciated by using the straight-line method. The payback period on this investment is:
a. 3.8 years
b. 5.4 years
c. 6 years
d. 8 years
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