Project L requires an initial outlay at t = 0 of $46,000, its expected cash inflows are $12,000 per year for 6 years, and its WACC is 13%. What is the project's payback? Round your answer to two decimal places.

will give thumbs up for right answer

13. Problem 11.04 (Payback Period) Problem Walk-Through ook Project L requires an initial outlay at t 0 of $46,000, its expected cash inflows are $12,000 per year for 6 years, and its WACC is 13%. What is the project's payback? Round your answer to two decimal places. years Grade It Now Save&Continue Continue without saving