Answered step by step
Verified Expert Solution
Question
1 Approved Answer
You have the following information on a project's cash flows. Year Cash flows 0 -$120,000 1 24,000 2 31,000 3 37,000 4 51,000 5 55,000
You have the following information on a project's cash flows.
| Year | Cash flows |
| 0 | -$120,000 |
| 1 | 24,000 |
| 2 | 31,000 |
| 3 | 37,000 |
| 4 | 51,000 |
| 5 | 55,000 |
The project's payback is ____ years. Round it to two decimal places.
Step by Step Solution
★★★★★
3.54 Rating (157 Votes )
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Finance Applications and Theory
Authors: Marcia Cornett, Troy Adair
3rd edition
1259252221, 007786168X, 9781259252228, 978-0077861681
