A project has an initial cost of $155,000. The estimated net cash flows of the project are as follows: (The discount rate is 8 percent.) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Net Cash Flows $30,000 $30,000 $28,000 $28,000 $28,000 $22,000 $22,000 $22,000 What is the project's payback period? Discounted Net Cash Flows $27,778 $25,720 $22,227 $20,581 $19,056 $13,864 $12,837 $11,886

A project has an initial cost of \\( \\$ 155,000 \\). The estimated net cash flows of the project are as follows: (The) discount rate is 8 percent.) What is the projoct's payback poriod