Project L costs $40,000, its expected cash inflows are $12,000 per year for 11 years, and its WACC is 14%. What is the project's payback? Round your answer to two decimal places.
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The payback period is the time it takes for a project to recover its initial investment. In this case, the initial investment is $40,000, and the annual cash inflow is $12,000. Show more…
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