Resnick Inc A $1.42$ Years
B $1.58$ Years
C $1.75$ Years
D $1.93$ Years
E

Short Answer

Resnick Inc. is considering a project that has the following cash flow data. What is the project's payback?
$\begin{array}{c}\begin{array}{lll} \text {Year}\\\text {Cash flows}\end{array}\begin{array}{lll} 0 \\\hline -\$350\end{array}\begin{array}{lll}1 \\\hline \$200\end{array}\begin{array}{lll}2 \\\hline \$200\end{array}\begin{array}{lll}3 \\\hline \$200\end{array}\end{array}$

a. $1.42$ years
b. $1.58$ years
c. $1.75$ years
d. $1.93$ years
e. $2.12$ years