Question: Turnkey, Inc., is considering a project with an initial cost of $36,000. The project will produce cash inflows of $12,000 a year for the first

Turnkey, Inc., is considering a project with an initial cost of $36,000. The project will produce cash inflows of $12,000 a year for the first 2 years and $18,000 a year for the following 2 years. What is the payback period?

A. 1.94 years B. 2.34 years C. 2.67 years D. 3.26 years E. 4.95 years

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