What is the payback period for a $20,000 investment with the following cash flows? Year 3 4 5 Cash flow $2,700 $8,300 $6,800 $4,800 $2,200 b. d. a. c. 3.61 years 3.23 years 3.46 years 3.68 years 4.01 years e. 10. A project has the following cash flows. What is the internal rate of return? Year 2 3 Cash flow -$782,100 $219,500 $348,600 $348,600 a. 3.20% b. 5.35% c. 9.01% d. 8.42% 7.78% e