Question: 4. Problem 11.04 (Payback Period) Project L requires an initial cutlay at t=0 of $62,000, its expected cash infliows are $13,000 per year for 10

 4. Problem 11.04 (Payback Period) Project L requires an initial cutlay

4. Problem 11.04 (Payback Period) Project L requires an initial cutlay at t=0 of $62,000, its expected cash infliows are $13,000 per year for 10 years, and its wacC is 10%. What is the project's payback? Round your answer to two decimal places. years Contiriue without saving

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