Question 27 of 45 -13 View Policies Current Attempt in Progress Pharoah Company is going to invest in a new product line. Pharoah estimates that the net cash flows from the new line will be $28000 per year. The initial investment required to implement the new line will be $588000. The company requires a rate of return of 3% and the new product line is expected to span a time period of 15 years. What is the payback period of the new product line? O 15.0 years O 1.4 years 0 21.0 years 0 27.0 years Attempts: 0 of 1 used Submit Answer Save for Later