Considering the purchase of new parking system

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A small town in Ohio is considering the purchase of a new parking system that would enhance the collection of parking fees while providing additional convenience to shoppers. The hardware requires an immediate investment of $700. The town estimates that the new system will create an annual cash flow of $192 to be received at the end of each year, beginning in one year, for 6 consecutive years. And, in addition, the project will produce a terminal cash flow in year (finalyear!n} of $292. What is the payback, in years, of the computer package?

Reference no: EM131897123

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Considering the purchase of new parking system : A small town in Ohio is considering the purchase of a new parking system that would enhance collection of parking fees while providing additional convenience

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