Alison Mayer, owner of a sports complex, is considering adding a climbing wall. The climbing wall costs

Question:

Alison Mayer, owner of a sports complex, is considering adding a climbing wall. The climbing wall costs $\$ 30,000$. Alison estimates the climbing wall will generate cash flows of $\$ 8,000$ the first, year, $\$ 10,000$ the second year, and $\$ 12,000$ the third year. What is the payback period?

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