A Project Has the Following Cash Flows A)304 Years
B)2

Multiple Choice

A project has the following cash flows.What is the payback period? $$\begin{array} { | c | r | } \hline \text { Year } & \text { Cash Flow } \\\hline 0 & - \$ 14,500 \\\hline 1 & 2,200 \\\hline 2 & 4,800 \\\hline 3 & 6,500 \\\hline 4 & 7,600 \\\hline\end{array}$$

A) 3.04 years
B) 2.59 years
C) 2.96 years
D) 3.13 years
E) 3.24 years