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Business, 29.04.2021 17:00 billy1123

(Ignore income taxes in this problem.) The Higgins Company has just purchased a piece of equipment at a cost of $120,000. This equipment will reduce operating costs by $40,000 each year for the next eight years. This equipment replaces old equipment which was sold for $8,000 cash. The new equipment has a payback period of: Group of answer choices 8.0 years 2.8 years 10.0 years 3.0 years

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