Brady Corp. is considering the purchase of a piece of equipment that costs $23,000.
Brady Corp. is considering the purchase of a piece of equipment that costs $23,000.
Projected net annual cash flows over the project’s life are as follows.
Year
Expected Cash Inflow
1
$3,000
2
$8,000
3
$15,000
4
$9,000
The payback period is _____.
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