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Payback Period (Even cash flows) Suppose that a particular investment required an up-front capital outlay of $100,000. This investment is expected to yield cash flows

Payback Period (Even cash flows)

Suppose that a particular investment required an up-front capital outlay of $100,000. This investment is expected to yield cash flows of $15,000 per year for 10 years. What is the payback period for this investment? If required, round your answer to two decimal places.

Formula: Payback Period = Initial Investment/Annual Cash Flow

Please Find for me the Payback Period and explain it how?

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