Question
Ace Hardware is adding a new product line that will require an investment of $ 1,512,000....
Ace Hardware is adding a new product line that will require an
investment of $ 1,512,000. Managers estimate that this investment
will have a 10-year life and generate net cash inflows of $
320,000 the first year, $ 270,000 the second year, and $ 250,000
each year thereafter for eight years. Compute the payback period.
Round to one decimal place.
The payback is ______ years.
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