CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Exercise 24-9 Legend Service Center just purchased an automobile hoist for $31,600. The holst has an 8-year life and an estimated salvage value of $3,090. Installation costs and freight charges were $3,930 and $800, respectively. Legend uses straight-line depreciation The new hoist will be used to replace mufflers and tires on automobile Legend estimates that the new hoist will enable his mechanics to replace 7 extra m ers per week. Each muffler sells for $73 installed. The cost of a muffier is $39, and the labor cost to install muffler is $12. Compute the cash payback period for the new holst. (Round answer to 2 decimal places,.. 10.50.) Cash payback period (b) Compute the annual rate of return for the new hoist (Round answer to I decimal place… 10.5.) Annual rate of return Click if you would like to show Work for this question: Open Show Work VOLS LINK TO THE LINK TO TEXT

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