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Project K has an initial cost of $61,995, and its expected net cash inflows are $18,000 per year for 6 years. The firm has a

Project K has an initial cost of $61,995, and its expected net cash inflows are $18,000 per year for 6 years. The firm has a WACC of 12 percent, and Project Ks risk would be similar to that of the firms existing assets. What is Project Ks payback period?

a. 3.64 years

b. 3.44 years

c. 4.00 years

d. 3.12 years

e. 3.00 years

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