Payback Period

Jan Booth is considering investing in either a storage facility or a car wash facility.

Both projects have a five$-$year life and require an investment of $$360,000.$ The

cash flow patterns for each project are given below.

Storage facility: Even cash flows of $$140,000$ per year

Car wash: $$112,900,$$$143,400,$$$67,000,$$$129,000,$ and $$91,000$

Required:

Calculate the payback period for the storage facility $($even cash flows$).$ Round

your answer to one decimal place.

years

Calculate the payback period for the car wash facility $($uneven cash flows$).$

Round your answer to three decimal places.

$x$ yearsJan Booth is considering investing in either a storage facility or a car wash facility. Both projects have a five$-$year life and require an investment of $$360,000.$ The cash flow patterns for each project are given below.

Storage facility: Even cash flows of $$140,000$ per year

Car wash: $$112,900,$ $$143,400,$ $$67,000,$ $$129,000,$ and $$91,000$

Required:

$1.$ Calculate the payback period for the storage facility $($even cash flows$).$ Round your answer to one decimal place.

fill in the blank $1$

years

$2.$ Calculate the payback period for the car wash facility $($uneven cash flows$).$ Round your answer to three decimal places.

fill in the blank $2$

years