Q4 The Payback Period: Binder Corp. has invested in new machinery at a cost of $1,450,000. This investment is expected to produce cash flows of $640,000, $715,250, $823,330, and $907,125 over the next four years. What is the payback period for this project? (Round your answer to two decimal places.) Solution: Year Cumulative CF $(1.450,000) $(1,450,000 640,000 (810,000) 715,250 (94,750) 823,330 728.580 907, 125 1,635,705