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The management of Unter Corporation, an architectural design firm, is considering an investment with the following cash flows: Year Investment Cash Inflow 1 $57,000 $3,000

The management of Unter Corporation, an architectural design firm, is considering an investment with the following cash flows:

Year

Investment Cash Inflow
1 $57,000 $3,000
2 $7,000 $6,000
3 $12,000
4 $13,000
5 $16,000
6 $14,000
7 $12,000
8 $10,000
9 $9,000
10 $9,000
Required:
1.

Determine the payback period of the investment.

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