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Following is information pertaining to an investment made in an equipment by Dune Incorporation. Using the given information calculate the payback period of the investmer Round the answer to 2 decimal places. Initial Investment Useful life $225,000 15 years $12,500 Salvage value Annual income from investment $17,300 Cost of capital 12%

Following is information pertaining to an investment made in an equipment by Dune Incorporation. Using the given information calculate the payback period of the investmer Round the answer to 2 decimal places. Initial Investment Useful life $225,000 15 years $12,500 Salvage value Annual income from investment $17,300 Cost of capital 12%

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Following is information pertaining to an investment made in an equipment by Dune Incorporation. Using the given information calculate the payback period of the investment. Round the answer to 2 decimal places. Initial Investment $225,000 Useful life 15 years $12,500 Salvage value Annual income from investment $17,300 Cost of capital 12% 11.11 years 8.14 years 13.01 years 12 years
Transcribed Image Text:Following is information pertaining to an investment made in an equipment by Dune Incorporation. Using the given information calculate the payback period of the investment. Round the answer to 2 decimal places. Initial Investment $225,000 Useful life 15 years $12,500 Salvage value Annual income from investment $17,300 Cost of capital 12% 11.11 years 8.14 years 13.01 years 12 years
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