Sandhill, Inc., is purchasing machinery at a cost of $ 3,544,720. The company's management expects the machinery to produce cash flows of $ 1,219,410, $ 1,277,160, and $ 1,705,150 over the next three years, respectively. What is the payback period? (Round answer to 2 decimal places, eg. 15.25.)

Sandhill, Inc., is purchasing machinery at a cost of $ 3,544,720. The company's management expects the machinery to produce cash flows of $ 1,219,410, $ 1,277,160, and $ 1,705,150 over the next three years, respectively. What is the payback period? (Round answer to 2 decimal places, eg. 15.25.)

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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None
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