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Globe Enterprises purchased a new machine with a total cost of $30,450 and a useful life of 6 years.The machine will produce net cash inflows of $7,250 over its useful life and has a residual value of $2,125.What is the payback period for the new machine?
Total Revenue
The total income received by a firm from selling its goods or services before any costs or expenses are deducted.
Elastic
Describing a situation in which the supply or demand for a good or service is highly responsive to changes in price.
Elasticity Coefficient
A measure reflecting the responsiveness of the quantity demanded or supplied of a good to a change in its price.
Price Increase
A rise in the cost of goods or services over time.
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