FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Merigold company is considering investing in new equipment that will cost $1,417,000 with a 10-year useful life. The new equipment is expected to produce annual net income at $63,700 over its useful life. Depreciation expense, using the straight-line rate is $141,700 per year.
Compute the cash pay back period. (Round answer to one decimal place, e.g. 15.2.)
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