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The LoveLivingInParadise Company wants to calculate how long it will take to recover their initial investment on a project. The end-of-year cash flows are estimated

The LoveLivingInParadise Company wants to calculate how long it will take to recover their initial investment on a project. The end-of-year cash flows are estimated to be: Cost $35,000 Year 1 $10,000 Year 2 $20,000 Year 3 $12,000 Year 4 $ 8,000 What is the payback period? (Give partial year to two decimal places. SHOW ALL WORK)

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