9. In deciding whether to purchase or lease a new dictation system, the HIM supervisor calculates the payback period. The hospital’s required payback period is three years. If the equipment costs $28,000 to purchase and generates $3,500 per year in savings, answer the following questions.

Question

9.	In deciding whether to purchase or lease a new dictation system, the HIM supervisor calculates the payback period. The hospital’s required payback period is three years. If the equipment costs $28,000 to purchase and generates $3,500 per year in savings, answer the following questions.

a.	What is the payback period for this equipment?

Type answer here

b.	Explain why the department should or should not purchase this dictation system

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