A town in florida is contemplating purchasing a new parking


A town in Florida is contemplating purchasing a new parking system that would enhance the collection of parking fees while providing additional convenience to shoppers. The hardware requires an immediate outflow of $800. The town estimates the new system will establish cash flows of $142 to be received consecutively at the end of each year, beginning in one year, for 8 straight years. What is the payback, in years (not in fractions of a year), of the computer package?

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Financial Management: A town in florida is contemplating purchasing a new parking
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