$12$ Homework

Part $2$ of $2$

Points: $0\mathrm{.}43$ of $1$

first year, $$280,000$ the second year, and $$240,000$ each year thereafter for eight years. The investment has no residual value. Compute the payback period.

First enter the formula, then calculate the payback period. $($Round your answer to two decimal places.$)$

$\backslash$table$[[$Full years,$+1,$Amount to complete recovery in next year,$,$Projected cash inflow in next year,$)=,$Payback$],[,+,100000,,240,000,)=,$years$]]$