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A project with an initial cost of $24,800 is expected to generate cash flows of $5,900, $8,000, $8,750, $7,650, and $6,700 over each of the

A project with an initial cost of $24,800 is expected to generate cash flows of $5,900, $8,000, $8,750, $7,650, and $6,700 over each of the next five years, respectively. What is the project's payback period? Multiple Choice 3.28 years 3.39 years 3.49 years 3.75 years 3.65 years

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