Please answer a,b

Ch 10 q1

Payback period The Ball Shoe Company is considering an investment project that requires an initial investment of $543,000 and returns after-tax cash inflows of $92,642 per year fr 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 dedimal places)