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10 points eBookPrintReferences Check my work Check My Work button is now enabledItem 1Item 1 10 points An investment project provides cash inflows of $745 per year for eight years. a. What is the project payback period if the initial cost is $1,700? (Enter 0 if the project never pays back. Round your answer to 2 decimal places, e.g., 32.16.)

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Answer:

Payback Period (in years) 2.28

Explanation:

Calculation for the project payback period if the initial cost is $1,700

Using this formula

Payback Period (in years) = Cash Outflow / Cash Inflows

Where,

Cash Outflow=1,700

Cash Inflows=745

Let plug in the formula

Payback Period (in years) =1,700 / 745

Payback Period (in years) =2.28

Therefore the Payback Period (in years) will e 2.28

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