Suppose a company had an initial investment of $$50,000.$ The cash flow for the next five years are $$14,000,$$$13,000,$$$13,000,$$$14,000,$ and $$15,000,$

respectively.

What is the payback period?

$($Enter your answer rounded to $2$ DECIMAL PLACES$)$

If the firm accepts projects with payback periods $4$ years or less, will this project be accepted?

Yes No