Question $6$

$7$ pts

$6.$ A project costs $$32,000$ and is expected to return cash flows of $$9,200$ per year for five years and then be worthless. What is the paytack period for this projeet?

$2\mathrm{.}8$ years

$1\mathrm{.}6$ years

$3\mathrm{.}5$ years

$5\mathrm{.}1$ years