***** show all steps in calculations, including financial calculator inputs. Set calculators to 4 decimal places

It will cost $6,000 to acquire an food cart. Cart sales are expected to be $3,600 a year for three years. After the three years, the cart is expected to be worthless as the expected life of the refrigeration unit is only three years. What is the payback period? Remember to show all work. a. 1.67 years b. 1.82 years c. 1.95 years d. 2.00 years