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Economics

A engineering firm plans to buy new software to improve efficiency. The software has an initial cost of $15,000, and is expected to increase profit by $3,000 per year. Determine the payback period for the software including the effect of interest using an MARR of 5%. Express your answer in years to the nearest whole year.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91843957

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