Reduce the time for machining self-locking fasteners

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Reference no: EM131253288

An investment of $55,000 in equipment that will reduce the time for machining self-locking fasteners will save $20,000 per year. At an interest rate of 15% per year, the number of years required to recover the initial investment is closest to:

(a) 6 years

(b) 5 years

(d) 3 years

Reference no: EM131253288

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