Joetz Corporation has gathered the following data on a proposed investment project (Ignore income taxes 15 Investment required in equipment $ 30,000 Annual cash inflows $ 6,000 Salvage value of equipment $ Life of the investment 15 years Required rate of return 1ex The company uses straight-line depreciation on all equipment Assume cash flows occur uniformly throughout a year except for the initial investment The payback period for the investment is 15 The payback period for the investment is: Multiple Choice eBook O 5 years O 15 years 2 years 7.143 years