A delivery business has purchased a small delivery truck. Th…
A delivery business has purchased a small delivery truck. The truck was purchased for $34,000 and will have a 6-year useful life and a $4,600 salvage value. Deliveries are projected to increase cash inflows by at least $6,400 per year. The business depreciates all assets using the straight-line method. The payback period for the auto is closest to (Ignore income taxes.): (Round your answer to 1 decimal place.)