Question: Answer should be 2.61 but I do not understand how to get the answer. Please show all work. Find the Payback period for the following

Answer should be 2.61 but I do not understand how to get the answer. Please show all work.

Answer should be 2.61 but I do not understand how to get

Find the Payback period for the following project: Project X Initial Outlay $8,850 Year 1 $3,310 Year 2 $3,210 Year 3 $3,850 Year 4 $5,320 The answer should be calculated to two decimal places

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