Payback period The Ball Shoe Company is considering an investment project that requires an initial investment of

$ 538 comma 000$538,000

and returns after-tax cash inflows of

$81 comma 62281,622

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.)