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Robinson Hardware is adding a new product line that will require

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Robinson Hardware is adding a new product line that will require an investment of
$1,454,000. Managers estimate that this investment will have a 10-year life and generate
net cash inflows of $300,000 the first year, $270,000 the second year, and
$260,000 each year thereafter for eight years.

Requirement

1. Compute the payback period

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