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A company is considering the purchase of a new piece of equipment for $109,200. Predicted...

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Accounting

A company is considering the purchase of a new piece of equipment for $109,200. Predicted annual cash inflows from this investment are $48,000 for year 1; $24,000 for year 2; $24,000 for year 3; $18,000 for year 4; and $18,000 for year 5. The payback period is?

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