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A small accounting firm is considering the purchase of a computer software package that would greatly reduce the amount of time needed to prepare tax forms. The software costs $1750 and this expense will be incurred immediately. The firm estimates that it will save $550 at the end of each year beginning in one year for 6 consecutive years, and also save $1513 in year 7. What is the payback on the computer package?

___ Years

Place your answer as an integer that stands for number of years.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92313051

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