Maddox Company is considering investing $800,000 in a new project. Projected annual revenues, expenses, and profit for the next four years follow: Sales Revenue Less: Cash Operating Costs Depreciation ($800,000/4) $600,000 (340,000) (200,000) Net Operating Income $ 60,000 The assets will have no salvage value at the end of four years and the company's required rate of return is 12 percent. Required: payback period.

Maddox Company is considering investing $800,000 in a new project. Projected annual revenues, expenses, and profit for the next four years follow: Sal Les Ne The assets will have no salvage value at the end of four years and the company's required rate of return is 12 percent. Required: payback period. Maddox Company is considering investing $800,000 in a new project. Projected annual revenues, expenses, and profit for the next four years follow: Sal Les Ne The assets will have no salvage value at the end of four years and the company's required rate of return is 12 percent. Required: payback period