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What is the payback period

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Sandhill, Inc., is purchasing machinery at a cost of $3,544,720. The company's management expects the machinery to produce cash flows of $1,219,410, $1,277,160, and $1,705,150 over the next three years, respectively. What is the payback period? (Round answer to 2 decimal places, e.g. 15.25.)

Reference no: EM132921571

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