Multiple Choice Question 70 Strange Manufacturing Company is purchasing a production facility at a cost of $21 million. The firm expects the project to generate annual cash flows of $7 million over the next five years. Its cost of capital is 18 percent. What is the payback period for this project? 3.4 years O2.8 years 3.0 years 3.2 years Question Attempts: 0 of 3 used