An investment project costs $13967. It is expected to have an annual net cash flow of $6119 for 5 years. What is the project's payback period? (The answer can be fractional in years.)

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 19EA: Redbird Company is considering a project with an initial investment of $265,000 in new equipment...
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An investment project costs $13967. It is expected to have an annual net cash flow of $6119 for 5 years. What is the project's
payback period? (The answer can be fractional in years.)
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