Problem 8-1 Calculating Payback [LO 1] Consider the following cash flows: Year Cash Flow -S 5,800 1,700 3,100 2 4 1,200 What is the payback period for the cash flows? Do not round intermediate calculations and round your answer to decimal aces eg, Payback period years References eBook & Resources Section: 8.2 The Payback Rule Worksheet Difficulty: 1 Basic Problem 8-1 Calculating LO 11 Learning Objective: 08-01 Summarize the payback rule and some of its shortcomings