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Robertson Hardware is adding a new product line that will require an advestment of $1,512,000....

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Accounting

Robertson Hardware is adding a new product line that will require an advestment of $1,512,000. Managers estimate that this investment wilk have a 10-year life and generate net cash inflows of $300,000 the first year, $280,000 the second year, and $240,000 each year thereafter for eight years. compute the payback period. round to one decimal place.
The payback in years is_____?

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