Question: 9. Problem 10-05 (Payback) eBook Payback A project has an initial cost of $65,000, expected net cash inflows of $12,000 per year for 9 years,

9. Problem 10-05 (Payback) eBook Payback A project has an initial

9. Problem 10-05 (Payback) eBook Payback A project has an initial cost of $65,000, expected net cash inflows of $12,000 per year for 9 years, and a cost of capital of 11%. What is the project's payback period? Round your answer to two decimal places. years

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