Please help provide step by step calculations for each of these problems.
Problem: A new MRI machine costs $15,000 and is expected to generate $4,000 in profit each year for the next 6 years.
Q1. What is the breakeven period (in months)? A new electronic medical records system costs $12,500 and is expected to reduce labor costs by $4,000 each year for the next 3 years.
Q2. What is the breakeven period (in months)? A new kidney dialysis machine costs $207,000 and is expected to generate $19,250 in profit each year for the next 12 years.
Q3. What is the breakeven period (in months)?