A company is considering an investment with the following cash flows:

Year Investment Cash Inflow

1 $ 52,000 $ 4,000

2 $ 6,000 $ 8,000

3 $ 16,000

4 $ 17,000

5 $ 20,000

6 $ 18,000

7 $ 16,000

8 $ 14,000

9 $ 13,000

10 $ 13,000 Required: Determine the payback period of the investment.

A company is considering an investment with the following cash flows: Required: Determine the payback period of the investment