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A company with $500,000 in operating assets is considering the purchase of a machine that costs $60,000 and which is expected to reduce operating costs by $15,000 each year. These reductions in cost occur evenly throughout the year. The payback period for this machine in years is closest to:A) 8.3 yearsB) 0.25 yearsC) 4 yearsD) 33.3 years
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