Westland Manufacturing spends $20,000 to update the lighting in its factory to more energy-efficient LED...
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Finance
Westland Manufacturing spends $20,000 to update the lighting in its factory to more energy-efficient LED fixtures. This will save the company $4,000 per year in electricity costs. The company estimates that these fixtures will last for 10 years. If the companys cost of funds is 8%, what is the discounted payback period of this project?
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