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To explain BioCom's capital budgeting techniques, Jane has decided to present the cash flows from two recent proposals: the nano test tube project and the

To explain BioCom's capital budgeting techniques, Jane has decided to present the cash flows from two recent proposals: the nano test tube project and the microsurgery kit project. All figures are in thousands of dollars:

Time of Cash Flow

Nano Test Tubes

Microsurgery Kit

Investment

($12,000)

($12,000)

Year 1

2,000

5,000

Year 2

3,000

5,000

Year 3

4,000

5,000

Year 4

5,000

5,000

Year 5

7,000

5,000

Compute the payback period for Nano Test Tubes project. Input your answer to the nearest tenth of a year. For example, if the answer is 2.17 years, input 2.2 into blackboard.

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