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SHOW ALL WORK. Ignore income taxes in all problems. 7. The management of Russell...

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Accounting

SHOW ALL WORK. Ignore income taxes in all problems.

7. The management of Russell Corporation is considering a project that would require an investment of $282,000 and would last for 6 years. The annual net operating income from the project would be $107,000, which includes depreciation of $43,000. The scrap value of the project's assets at the end of the project would be $24,000. What is the payback period of the project?

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