financial accounting

4. A project that requires an initial investment of $100,000 will yield the following operating cash flows and net income over its five-years. Compute the project's payback period in years and months. Year OCE Net Income 2 3 1 2 3 4 20,000 30,000 40,000 15,000 60,000 15,000 25,000 35,000 10,000 55,000 5