Service Center Just purchased an automobile hoist for $32, 320. The hoist has an 8...
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Service Center Just purchased an automobile hoist for $32, 320. The hoist has an 8 year life and an estimated salvage value of $3, 300 installation costs and freight charges were $3, 506 and $850, respectively. Brady uses straight line depreciation. The new hoist will be used to replace mufflers and tires on automobiles Brady estimates that the new hoist will enable his mechanics to replace 7 extra mufflers per week. Each muffler sells for $/6 installed. The cost of a muffler is $40, and the labor cost to install a muffler is $12. Compute the cash payback period for the new hoist. Compute the annual rate of return for the new hoist. (Round answer to 1 decimal place, e.g. 10.5.)
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