Problem
The local hospital has just implemented a totally automated switchboard that cost $205,000 to install. The switchboard replaced four operators who were paid $15K annually. Fringe benefits (vacation, sick leave, insurance, etc.) cost the hospital 42% of each annual salary. Determine the payback period for the new switchboard.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.