A company is considering two projects.
What is the payback period for Project I?
Definitions:
Straight-Line Method
A method of calculating the depreciation of an asset, which evenly spreads the cost of the asset over its useful life.
Residual Value
The estimated salvage value of an asset at the end of its useful life.
Double-Declining-Balance
A method of accelerated depreciation where an asset's book value is decreased at double the rate of its straight-line depreciation.
Residual Value
It's the estimated value that an asset will realize upon its sale at the end of its useful life, after depreciation has been taken into account.
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