Problem 8-2 Calculating Payback [LO 1] An investment project provides cash inflows of $865 per year for eight years. a. What is the project payback period if the initial cost is $3,100? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What is the project payback period if the initial cost is $4,300? (Do not round Intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. What is the project payback period if the initial cost is $7,900? (Enter "O" if the project never pays back. Do not round Intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. Payback period b. Payback period c. Payback period years years years