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Creative Solutions, Inc., has just invested $4,615,300 in new equipment. The firm uses a payback period criterion of rejecting any project that takes more than
Creative Solutions, Inc., has just invested $4,615,300 in new equipment. The firm uses a payback period criterion of rejecting any project that takes more than four years to recover its costs. Management anticipates cash flows of $644,386,$812,178,$943,279, $1,364,997,$2,616,300, and $2,225,375 over the next six years. (Round answer to 2 decimal places, e.g. 15.25.) What is the payback period of this investment? Payback period is years. Should Creative Solutions, Inc. go ahead with this project? The firm the project
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