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Calculate the payback period for a project that has the following cash flows? The required return is 12.0%. Year 0 1 2 Cash Flow $

Calculate the payback period for a project that has the following cash flows? The required return is 12.0%. Year 0 1 2 Cash Flow $ (20,000) $5,000 $5,000 $ 5,000 $5,000 $ 5,000 $ 5,000 3 4 5 6 None of these are correct. 4.0 years 3.2 years 3.6 years 44 years

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