You are evaluating an investment project costing $42,000 initially. The project will provide $3,000 in after-tax cash flows in the first year, and $7,000 each year thereafter for 10 years. The maximum payback period for your company is 6 years. Part 1 What is the payback period for this project? H+ decimals Submit B Attempt 3/10 for 8 pts.

You are evaluating an investment project costing $42,000 initially. The project will provide $3,000 in after-tax cash flows in the first year, and $7,000 each year thereafter for 10 years. The maximum payback period for your company is 6 years. Part 1 -1 1 Attempt 3/10 for 8 pts. What is the payback period for this project