A plasma arc furnace is being considered for the
incineration of medical wastes at a public hospital. The initial
investment is $3,000,000 and annual revenues are expected to be
$1,800,000 over the six-year life of the furnace. Annual expenses
will be $1,000,000 at the end of year one and will increase by
($10,000 ) each year thereafter. The salvage value of the furnace
after six years is $700,000. Assume MARR is 10%.What is the simple
payback period of the furnace...