2 HW Question 2, E12-21A (similar to) < > Part 2 of 2 HW Score: 14.14%, 1.41 of 10 points Points: 0.42 of 1 Save Gibson Hardware is adding a new product line that will require an investment of $1,550,000. Managers estimate that this investment will have a 10-year life and generate net cash inflows of $315,000 the first year, $265,000 the second year, and $235,000 each year thereafter for eight years. The investment has no residual value. Compute the payback period. Projected cash inflow in next year = )= Payback years First enter the formula, then calculate the payback period. (Round your answer to two decimal places.) Full years +( Amount to complete recovery in next year + Get more help - 13 Clear all Check answer