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Compute the payback period for henry hardware

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Reference no: EM132955633

Problem 1: Henry 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-yeat life and generate net cash inflows of $310,000 the first year, $270,000 the second year, and $240,000 each year thereafter for eight years. Compute the payback period. Round to one decimal point.

Reference no: EM132955633

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