Sheridan Solutions, Inc., has just invested $4,798,500 in new equipment. The firm uses a payback period criteria of rejecting any project that takes more than four years to recover its costs. Management anticipates cash flows of $671,300, $940,800, $754,800, $1,215,600, $2,410,100, and $1,783,100 over the next six years. (Round answer to 2 decimal places, e.g. 15.25.) What is the payback period of this investment?

Payback period is enter a number of years for the payback period rounded to 2 decimal places years.

Should Sheridan Solutions, Inc. go ahead with this project?

The firm select an option should not accept OR should go ahead with the project.