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The Seattle corporation has been presented with an investment opportunity that will yield cash flows of $32,000 per year in years 1 through 3, $45,000

The Seattle corporation has been presented with an investment opportunity that will yield cash flows of $32,000 per year in years 1 through 3, $45,000 per year in years 4 through 6, and $52,000 in years 7 through 10. This investment will cost the firm $315,000 today, and the firms cost of capital is 12%. Assume cash flows occur evenly during the year 1/365th each day. What is the payback period for this investment?

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