Services United Is Considering a New Project That Requires an Initial

Multiple Choice

Services United is considering a new project that requires an initial cash investment of $78,000.The project will generate cash inflows of $29,500,$32,700,$18,500,and $10,000 over each of the next four years,respectively.How long will it take to recover the initial investment?

A) 2.74 years
B) 2.85 years
C) 2.99 years
D) 3.27 years
E) 3.68 years