Compute the payback period for an investment with the following net cash flows. (Round your answer to one decimal place.) Year Initial investment 1. 2. 3. 5. 6. Net Cash Flows Cumulative Net Cash Flows Payback period per Year $ (110,000) 11,000 21,000 21,000 24,200 41,000 41,000 $ (110,000) (99,000) (78,000) (57,000) (32,800) 8,200 49,200 Answer is complete but not entirely correct. 3.0 x years

Compute the payback period for an investment with the following net cash flows. (Round your answer to one decimal place.) (8) Answer is complete but not entirely correct