It Will Cost $3,200 to Acquire a Small Ice Cream

Multiple Choice

It will cost $3,200 to acquire a small ice cream cart.Cart sales are expected to be $1,500 a year for three years.After the three years,the cart is expected to be worthless.What is the payback period?

A) 1.88 years
B) 2.07 years
C) 2.13 years
D) 2.46 years
E) 3.13 years