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Mr. Quixote is considering an investment in alternative energy. He estimates that the project has annual cash inflows of $3, 300, 54, 200, $5, 400,
Mr. Quixote is considering an investment in alternative energy. He estimates that the project has annual cash inflows of $3, 300, 54, 200, $5, 400, and $4, 600, for the next four years, respectively. The discount rate is 15 percent. What is the discounted payback period for these cash flows if the initial cost is $8, 100? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
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