Payback period.

What are the payback periods of projects E and F in the following table:

Cash Flow E F Cost 46,000 100,000 Cash flow year 1 9,200 30,000 Cash flow year 2 9,200 40,000 Cash flow year 3 9,200 10,000 Cash flow year 4 9,200 20,000 Cash flow year 5 9,200 0 Cash flow year 6 9,200 0

Assume all the cash flow is evenly spread throughout the year. If the cutoff period is 3 years, which project(s) do you accept?

What is the payback period for project E?

____ years (Round to one decimal place.)

Make sure to complete for project E & F.