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Find the Payback period for the following project: Project Y Initial Outlay $18,600 Year 1 $5,530 Year 2 $5,100 Year 3 $5,570 Year 4 $7,300
Find the Payback period for the following project:
| Project Y |
Initial Outlay | $18,600 |
Year 1 | $5,530 |
Year 2 | $5,100 |
Year 3 | $5,570 |
Year 4 | $7,300 |
The answer should be calculated to two decimal places.
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