Worksheet: How to make sure that new piece of veterinary equipment will pay off
Not sure if you can swing a new equipment purchase right now? Use these two formulas to determine how long it will take to pay off the machine and calculate your return on investment.
Before you decide to seal the deal on that shiny, new piece of equipment, you need to make sure the investment will be profitable, says Gary Glassman, CPA. How do you that? Bust out the No. 2 pencil and plug your numbers into these formulas to make sure the life of the investment exceeds the payback period.
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