Question: 13. Problem 11.04 (Payback Period) eBook Problem Walk-Through Project L. requires an initial outlay at 0 of $61,000, its expected cash inflows are $12,000 per
13. Problem 11.04 (Payback Period) eBook Problem Walk-Through Project L. requires an initial outlay at 0 of $61,000, its expected cash inflows are $12,000 per year for 6 years, and its WACC is 10%. What is the project's payback? Round your answer to two decimal places. years
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