Question: Likeby, Inc., is considering a long-term investment. It will require an investment of $84,000. It will have a useful life of 5 years, and no

Likeby, Inc., is considering a long-term investment. It will require an investment of $84,000. It will have a useful life of 5 years, and no salvage (i.e., ending) value. Annual cash savings from the investment are $40,000, and annual cash outflows are $16,000. Assume that cash flows other than the initial investment occur evenly throughout the year. What is the payback period? 1 point 3 years 4 years 4.5 years 3.5 years

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