Question: BEA uses the Payback Method for Capital Budgeting: Suppose it has a t = 0 cash flow of -$1,000 followed by cash flows of $400

BEA uses the Payback Method for Capital Budgeting: Suppose it has a t = 0 cash flow of -$1,000 followed by cash flows of $400 at t = 1, $500 at t = 2, $233 at t = 3 and 206 at t = 4. Calculate BEA's payback for this project in years to a precision of two places

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