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Compute the machine payback period

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Question - A machine can be purchased for $284,000 and used for five years, yielding the following net incomes. In projecting net incomes, double-declining depreciation is applied using a five-year life and a zero salvage value.

Net income

Year 1 $21,000

Year 2 $34,000

Year 3 $72,000

Year 4 $54,000

Year 5 $139,000

Required - Compute the machine's payback period (ignore taxes).

Reference no: EM132953183

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