Considering the purchase of computer software package

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Reference no: EM131336953

A small accounting firm is considering the purchase of a computer software package that would greatly reduce the amount of time needed to prepare tax forms. The software costs $2200 and this expense will be incurred immediately. The firm estimates that it will save $650 at the end of each year beginning in one year for 8 consecutive years, and also save $1788 in year 9. What is the payback on the computer package? Years Place your answer as an integer that stands for number of years.

Please explain how to solve this.

Reference no: EM131336953

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