Flamio Corporation Is Considering a Project That Would Require an Initial

Essay

Flamio Corporation is considering a project that would require an initial investment of $210,000 and would last for 6 years. The incremental annual revenues and expenses for each of the 6 years would be as follows: At the end of the project, the scrap value of the project's assets would be $24,000.
Required:
Determine the payback period of the project. Show your work!