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Archer Hardware is adding a new product line that will require an investment of $1,540,000. Managers...

Archer Hardware is adding a new product line that will require an investment of $1,540,000. Managers estimate that this investment will have a​ 10-year life and generate net cash inflows of $315,000 the first​ year, $300,000 the second​ year, and 255,000 each year thereafter for eight years. The investment has no residual value. Compute the payback period.

First enter the​ formula, then calculate the payback period. ​

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Year Cumulative Investment Cash Flows Cash flows -1540000 0 - 1540000 315000 -1225000 300000 -925000 255000 -670000 255000 -4

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