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Business, 15.04.2021 21:00 springlcp2nk7h

Ocean Wave Packaging is considering a $600,000 investment in new equipment that is anticipated to produce the following data over a five-year life: Year Cash Inflows Cash Outflows Depreciation 1 $ 350,000 $ 130,000 $ 120,000 2 450,000 190,000 120,000 3 450,000 170,000 120,000 4 340,000 150,000 120,000 5 300,000 130,000 120,000 Ignoring income taxes and assuming that cash flows occur evenly throughout a year, the equipment's approximate payback period is:

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