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Find the Payback period for the following project: Project Y Initial Outlay $18,200 Year 1 $5,400 Year 2 $5,780 Year 3 $5,060 Year 4 $7,610
Find the Payback period for the following project:
| Project Y |
Initial Outlay | $18,200 |
Year 1 | $5,400 |
Year 2 | $5,780 |
Year 3 | $5,060 |
Year 4 | $7,610 |
The answer should be calculated to two decimal places.
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