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(Ignore income taxes in this problem.) A company with $675,000 in operating assets is considering...

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Accounting

(Ignore income taxes in this problem.) A company with $675,000 in operating assets is considering the purchase of a machine that costs $77,000 and which is expected to reduce operating costs by $23,000 each year. These reductions in cost occur evenly throughout the year. The payback period for this machine in years is closest to:

3.3 years

8.8 years

0.3 years

29.3 years

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