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Determine the payback period

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Norman Rentals can purchase a van that costs $45,000; it has an expected useful life of three years and no salvage value. Norman uses straight-line depreciation. Expected revenue is $25,000 per year. Assume that depreciation is the only expense associated with this investment. Required a. Determine the payback period. (Round your answer to 1 decimal place.) (years)

Reference no: EM13972925

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