Payback period The Ball Shoe Company is considering an investment project that requires an initial investment of $578,000 and returns after-tax cash inflows of $102,836 per year for 10 years. The firm has a maximum acceptable payback period of 8 years. a. Determine the payback period for this project. b. Should the company accept the project? a. The payback period for this project is years. (Round to two decimal places.)

Question
Payback period The Ball Shoe Company is considering an investment project that requires an initial investment of $578,000 and returns after-tax cash inflows of $102,836 per year for 10 years. The firm has a
maximum acceptable payback period of 8 years.
a. Determine the payback period for this project.
b. Should the company accept the project?
a. The payback period for this project is
years. (Round to two decimal places.)
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Payback period The Ball Shoe Company is considering an investment project that requires an initial investment of $578,000 and returns after-tax cash inflows of $102,836 per year for 10 years. The firm has a maximum acceptable payback period of 8 years. a. Determine the payback period for this project. b. Should the company accept the project? a. The payback period for this project is years. (Round to two decimal places.)