In: Finance
Problem 10-05
Payback
A project has an initial cost of $56,425, expected net cash inflows of $13,000 per year for 9 years, and a cost of capital of 12%. What is the project's payback period? Round your answer to two decimal places.
Initial cost = $56,425
Net cash inflows = $13,000
Period = 9 years
Cost of capital = 12%