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QUESTION
The manager of Simple Company must choose between two investments. Project A costs $50,000 and promises cash savings of $10,000 a year over a useful...
The manager of Simple Company must choose between two investments. Project A costs $50,000 and promises cash savings of $10,000 a year over a useful life of 10 year. Project B costs $60,000, and the estimated cash savings are $11,000 per year over a useful life of 11 years. Using the payback method, determine which project the manager should choose.
