You are planning to open a restaurant in Brickell. Following the initial investment of $1,050,292, the expected cash flows over the next 4 years are as follows. What is the payback period of this project? t Cash Flows 1 $246,463 2 $359,263 3 $470,233 4 $441,538 *Round your answer to the nearest two decimals

Essentials Of Investments
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ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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You are planning to open a restaurant in Brickell. Following the initial investment of
$1,050,292, the expected cash flows over the next 4 years are as follows. What is the
payback period of this project?
t Cash Flows
1 $246,463
2 $359,263
3 $470,233
4 $441,538
*Round your answer to the nearest two decimals
Transcribed Image Text:You are planning to open a restaurant in Brickell. Following the initial investment of $1,050,292, the expected cash flows over the next 4 years are as follows. What is the payback period of this project? t Cash Flows 1 $246,463 2 $359,263 3 $470,233 4 $441,538 *Round your answer to the nearest two decimals
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