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Rihanna Company is considering purchasing new equipment for $468,600. It is expected that the equipment...

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Accounting

Rihanna Company is considering purchasing new equipment for $468,600. It is expected that the equipment will produce net annual cash flows of $66,000 over its 10-year useful life. Annual depreciation will be $46,860. Compute the cash payback period. (Round answer to 1 decimal place, e.g. 10.5.)

Cash Payback Period _______ years

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