Expand capacity by purchasing equipment

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Reference no: EM13746017

Phillips Refining plans to expand capacity by purchasing equipment that will provide additional smelting capacity. The cost of the initial investment is expected to increase by $3.8 million per year after the expansion. If the company's MARR is 18% per year, how long will it take for the company to recover its investment? Identify the engineering symbols involved and their values.

Reference no: EM13746017

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