Question: 5. Problem 12-05 (Payback) EB eBook Payback A project has an initial cost of $50,350, expected net cash inflows of $11,000 per year for 9

5. Problem 12-05 (Payback) EB eBook Payback A project has an

5. Problem 12-05 (Payback) EB eBook Payback A project has an initial cost of $50,350, expected net cash inflows of $11,000 per year for 9 years, and a cost of capital of 13%. What is the project's payback period? Round your answer to two decimal places. years

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