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The management of Niagara National Bank is considering an investment in automatic teller machines. The...

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Accounting

The management of Niagara National Bank is considering an investment in automatic teller machines. The machines would cost $124,200 and have a useful life of seven years. The banks controller has estimated that the automatic teller machines will save the bank $27,000 after taxes during each year of their life (including the depreciation tax shield). The machines will have no salvage value. Use Appendix A for your reference. (Use appropriate factor(s) from the tables provided.) Required: 1. Compute the payback period for the proposed investment.

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