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An asset costs $144000 and is expected to have a $24000 salvage value at the end of its 10-year life. Straight-line depreciation will be used.

An asset costs $144000 and is expected to have a $24000 salvage value at the end of its 10-year life. Straight-line depreciation will be used. The asset is expected to generates net cash inflows of $24000 each year. The cash payback period for the asset is

a- 5 years.

b- 7 years.

c- 4 years.

d- 6 years.

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