Queen Products Company are presented below. All balance sheet data are as of December 31. 2017 2016 Net sales $757,500 $721,500 Cost of goods sold 480,500 445,000 Interest expense 8,000 4,200 Net income 45,500 37,000 Accounts receivable 123,500
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Calculate the payback period for the following investment: Invest ($10,000). Cash flows in Yr1: 1,000; Yr2: 3,000; Yr3: 3,000; Yr4: 3,000; Yr5: 100,000; Yr6: 250,000. Group of answer choices 6 years 4 years 5 years 3 years
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