Elysian Fields, Inc., uses a maximum payback period of 6 years and currently must choose between two mutually exclusive projects. Project Hydrogen requires an initial outlay of

$29,000;

project Helium requires an initial outlay of

$32,000.

Using the expected cash inflows given for each project in the following table

calculate each project's payback

period.

Which project meets Elysian's standards?

i X Data Table (Click on the icon here in order to copy the contents of the data table below into a spreadsheet.) Year 1 2 Expected cash inflows Hydrogen Helium $6,500 $7,000 $6,500 $7,000 $7,500 $9,000 $5,000 $5,000 $2,000 $4,000 $2,500 $3,000 3 4 5 6 Print Done