Question: Attempts Keep the Highest / 1 9. Problem 10-05 (Payback) 89 eBook Payback A project has an initial cost of $45,000, expected net cash inflows

Attempts Keep the Highest / 1 9. Problem 10-05 (Payback) 89

Attempts Keep the Highest / 1 9. Problem 10-05 (Payback) 89 eBook Payback A project has an initial cost of $45,000, expected net cash inflows of $15,000 per year for 7 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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