How long must the firm wait until it recovers

Reference no: EM13290061

Today, Snack Foods, Inc. is investing $311,000 in some new potato chip-making equipment. The company expects the cash flows to increase by $70,000 a year for the next three years and $95,000 a year for the following two years as a result of this investment. How long must the firm wait until it recovers all of its initial investment? (Please calculate the arithmetic solution and show your work)

Reference no: EM13290061

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