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Rihanna Company is considering purchasing new equipment for $578,500. It is expected that the equipment...

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Accounting

image Rihanna Company is considering purchasing new equipment for $578,500. It is expected that the equipment will produce net annual cash flows of $65,000 over its 10-year useful life. Annual depreciation will be $57,850. Compute the cash payback period. (Round answer to 1 decimal place, e.g. 10.5.) Cash payback period years

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