Question: PLEASE SHOW STEP BY STEP FORMULAS WITHOUT EXCEL ONLY FINANCIAL CALCULATOR You are planning to open a restaurant in Brickell. Following the initial investment of

PLEASE SHOW STEP BY STEP FORMULAS WITHOUT EXCEL ONLY FINANCIAL CALCULATOR

You are planning to open a restaurant in Brickell. Following the initial investment of $941,817, the expected cash flows over the next 5 years are as follows. What is the discounted payback period of this project? Assume the discount rate is 3% t Cash Flows 1 $248,319 2 $253,445 3 $509,540 4 $378,608 *Round your answer to the nearest two decimals 2.92 2.99 margin of error +/- 2%

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