Crane Specialties just purchased inventory-management computer software at a cost of $1,475,950. Cost savings from the investmentover the next six years will produce the following cash flow stream: $223,340, $262,240, $355,600, $564,250, $746,320, and$740,740. What is the payback period on this investment? (Round answer to 2 decimal places,e.g. 15.25.)Payback period isyears

Solution given below Explanation:

Answered: Crane Specialties just purchased…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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