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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 $31,000 $2,000
The management of Unter Corporation, an architectural design firm, is considering an investment with the following cash flows:
| Year | Investment | Cash Inflow |
| 1 | $31,000 | $2,000 |
| 2 | $ 4,000 | $4,000 |
| 3 | $8,000 | |
| 4 | $9,000 | |
| 5 | $12,000 | |
| 6 | $10,000 | |
| 7 | $8,000 | |
| 8 | $6,000 | |
| 9 | $5,000 | |
| 10 | $5,000 | |
|
| ||
Required:
1. Determine the payback period of the investment. (Round your answer to 1 decimal place.)
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