Essay
The management of Sobus Corporation is considering a project that would require an initial investment of $458,000 and would last for 9 years. The annual net operating income from the project would be $58,000, including depreciation of $48,000. At the end of the project, the scrap value of the project's assets would be $26,000.
Required:
Determine the payback period of the project. Show your work!
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Correct Answer:
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Payback period = In...View Answer
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