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Southern Manufacturing Company is considering the following investment proposal: Initial investment: $48,000 15,000 $26,000 17,000 Depreciable assets Working capital Operations per year: Cash receipts Cash

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Southern Manufacturing Company is considering the following investment proposal: Initial investment: $48,000 15,000 $26,000 17,000 Depreciable assets Working capital Operations per year: Cash receipts Cash expenditures Disinvestment: Salvage value of equipment Recovery of working capital $2,000 4,000 The investment's payback period in years is: Select one: a. 5.00 b. 3.56 c. 7.00 d. 6.00

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