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Given the following annual costs, compute the payback period for the new machine if its...

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Accounting

Given the following annual costs, compute the payback period for the new machine if its initial cost is USD 420,000

Old machineNewmachineDepreciation$ 18,000$ 42,000Labor72,00063,000Repairs21,0004,500Other costs12,0003,600$ 123,000$ 113,10

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