Question: Bay, Inc. is considering a project with an initial cost of $20,000. The project will produce cash inflows of $10,000 a year for the first

Bay, Inc. is considering a project with an initial cost of $20,000. The project will produce cash inflows of $10,000 a year for the first year and $8,000 a year for the following five years. What is the payback period?

1.88 years

4.00 years

2.25 years

3.26 years

I need answer fast !! Please double check your work !!

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