Joe's Hardware is adding a new product line that will require an investment of $1,480,000. Managers estimate that this investment will have a 10-year life and generate net cash inflows of $300,000 the first year, $290,000 the second year, and $225,000 each year thereafter for eight years. The investment has no residual value. Compute the payback period. CRECH First enter the formula, then calculate the payback period. (Round your answer to two decimal places.) Full years +(Amount to complete recovery in next year 14 +( Projected cash inflow in next year )= Payback years =

Joe's Hardware is adding a new product line that will require an investment of $1,480,000. Managers estimate that this investment will have a 10-year life and generate net cash inflows of $300,000 the first year, $290,000 the second year, and $225,000 each year thereafter for eight years. The investment has no residual value. Compute the payback period. CRECH First enter the formula, then calculate the payback period. (Round your answer to two decimal places.) Full years +(Amount to complete recovery in next year 14 +( Projected cash inflow in next year )= Payback years =

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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