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Fexsteel Industries manufactures fumiture for the retali, contract, and recreational vehicle furniture markets. The company...

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Accounting

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Fexsteel Industries manufactures fumiture for the retali, contract, and recreational vehicle furniture markets. The company is considering the purchase of a new plece of equipment, which would have an inlitial cost of $1,000,000 and a 5 year life. There is no salvage value for the eaulpment. The Increase in cash flow each year of the equipment's life would be as follows: What is the payback period? Multiple Choice 2.88 years 2,92 years

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