23

There is a project with the following cash flows :

Year	Cash Flow
0	$29,000
1	8,500
2	8,450
3	7,850
4	6,600

What is the payback period?

Multiple Choice

• 3.93 years

• 3.64 years

• 4.00 years

• 2.46 years

• 3.86 years