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An equipment which costs $150,000 is expected to last 7 years and have a salvage...

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Finance

An equipment which costs $150,000 is expected to last 7 years and have a salvage value of $5,000 at the end of its life. The annual cash inflows are expected to be $250,000 and annual cash outflows are expected to be $200,000. What is the payback period of this equipment?

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