Multiple Choice
Lamb Ltd is evaluating an investment proposal using the payback method. Cash inflows are expected to be $3000 in year 1, $3500 in year 2, $5000 in year 3, and $4500 in year 4. The initial investment required is $7000. Assuming even cash inflows within each year what is the payback period?
A) 1.8 years
B) 2.1 years
C) 2.3 years
D) 3.1 years
Correct Answer:
Verified
Correct Answer:
Verified
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