Required: A project has estimated annual net cash flows of $64,000 and is estimated to cost $352,000. What is the payback period? Note: Round your answer to 2 decimal places. Payback Period Years

Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter12: Capital Budgeting: Decision Criteria
Section: Chapter Questions
Problem 1P: A project has an initial cost of 40,000, expected net cash inflows of 9,000 per year for 7 years,...
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Required:
A project has estimated annual net cash flows of $64,000 and is estimated to cost $352,000. What is the payback period?
Note: Round your answer to 2 decimal places.
Payback Period
Years
Transcribed Image Text:Required: A project has estimated annual net cash flows of $64,000 and is estimated to cost $352,000. What is the payback period? Note: Round your answer to 2 decimal places. Payback Period Years
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