Question: You are evaluating a project that will cost $ 456 comma 000, but is expected to produce cash flows of $ 124 comma 000 per

You are evaluating a project that will cost $ 456 comma 000, but is expected to produce cash flows of $ 124 comma 000 per year for 10 years, with the first cash flow in one year. Your cost of capital is 11.2 % and your company's preferred payback period is three years or less. a. What is the payback period of this project?

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