A company must decide between renovating an existing building or constructing a new one. each approach would require an initial investment of $260,000. the renovation has a payback period of 2.5 years, whereas the new construction has a payback period of 48 years your company president would need to make the final decision. all else being equal, which approach should you recommend as the better investment?
a) Renovating the existing building
b) Constructing a new building
c) Both options are equally favorable
d) Not enough information to determine
