P10-1 (similar to) Question Help Payback period The Ball Shoe Company is considering an investment project that requires an initial investment of $545,000 and returns after-tax cash inflows of $88,707 per year for 10 years. The firm has a maximum acceptable payback period of 8 years. a. Determine the payback period for this project. b. Should the company accept the project? a. The payback period for this project is years. (Round to two decimal places.)