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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

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 $30,000; project Helium requires an initial outlay of $34,000. Using the expected cash inflows given for each project in the following table,

Expected cash inflows
Year Hydrogen Helium
1 $5,500 $6,000
2 $7,000 $8,000
3 $9,000 $7,500
4 $5,000 $6,000
5 $4,000 $6,000
6 $1,000 $3,500

calculate each project's payback period. Which project meetsElysian's standards?

The payback period of project Hydrogen is ___ years

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