Question: A firm is evaluating a proposal which has an initial investment of $60,000 and has cash flows of $15,000 per year for five years. The

A firm is evaluating a proposal which has an initial investment of $60,000 and has cash flows of $15,000 per year for five years. The payback period of the project is ________.

Group of answer choices

4 years

1.5 years

4.5 years

2 years

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