Question: ANderson Inc. is considering a project with an initial cost of $28,000. The project will produce cash inflows of $9,000 a year for the first

ANderson Inc. is considering a project with an initial cost of $28,000. The project will produce cash inflows of $9,000 a year for the first year and $10,000 a year for the following three years. What is the payback period? 2.31 years 2.47 years 2.90 years 3.10 years 3.34 years

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