A company is considering a new project that will cost $750,000. The project is expected to generate positive cash flows over the next four years in the amounts of $300,000 in year one, $325,000 in year two, $150,000 in year three, and $180,000 in year four. The required rate of return is 8%. What is the project’s payback period?
2.60 years 2.83 years 2.63 years 2.33 years 2.50 years
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