Can you please explain to me how to find the discount payback year for this question and please explain excatly what you did and include any claculations you have to do becuase I can't seem to get the answer that the back of my text book has for this question.
Glimore Inc. is considering purchasing an additional printer that will have a seven-year useful life. The new printer will cost $44,500. Cost savings with this printer are expected to be $13,600 for the first two years, $9,400 for the following two years, and $5,300 for the last three years of the printers useful life.
What is the discounted payback period for this project if the discount rate of 10%?