An investment project provides cash inflows of $1,400 per year for eight years. (Do not round intermediate calculations. Enter 0 if the project never pays back. Round your answers to 2 decimal places (e.g., 32.16).)

Requirement 1:

What is the project payback period if the initial cost is $4,350?

Payback period ____________________

years

Requirement 2:

What is the project payback period if the initial cost is $5,400?

Payback period ______________________

years

Requirement 3:

What is the project payback period if the initial cost is $12,200?

Payback period _____________________

years