Questions 14 -20 are all based on the following information. Mr. Woodridge, the CEO of Woodstock Wood Chippers. Ir believes that the firm could create additional value by adding stomp grinders to its product mix Machinery used in producing the stump grinders would cost $16,500,000. According to Woodride's projections, the subsequent net cash flows the company would generate for the investors if it entered the stump grinder business would be 52,280,000 per year for 12 years. These are the only cash flows expected. The firm's annual weighted average cost of capital for a project of this type is 10% QUESTION: What is the stump grinder projects PAYBACK PERIOD in years? 19.4763 1172368 Oc1.6582 0.54019 11.0497