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Billy's Pizza Parlor is considering the purchase of a large oven and related equipment for mixing and baking Billy's Favorite Bread. The oven and equipment would cost $180,000 delivered and installed. It would be usable for about 10 years, after which it would have a 10% scrap value.
The following additional information is available.
Question 1: Prepare a contribution format income statement showing the net operating income each year from production and sale of Billy's Favorite Bread.
Question 2: Compute the simple rate of return for the new oven and equipment. If a simple rate of return above 16% is acceptable to Billy, will he purchase the oven and equipment?
Question 3: Compute the payback period on the oven and equipment. If Billy purchases any equipment with less than a 4-year payback, will he purchase this equipment?
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