Project L requires an initial outlay at t = 0 of $53,000, its expected cash inflows are $10,000 per year for 10 years, and its WACC is 11%. What is the project's payback? Round your answer to two decimal places. years

Project L requires an initial outlay at t = 0 of $53,000, its expected cash inflows are $10,000 per year for 10 years, and its WACC is 11%. What is the project's payback? Round your answer to two decimal places. years

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter12: Capital Budgeting: Decision Criteria

Section: Chapter Questions

Problem 1P: A project has an initial cost of 40,000, expected net cash inflows of 9,000 per year for 7 years,...

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Project L requires an initial outlay at t = 0 of $53,000, its expected cash inflows are $10,000 per year for 10 years, and its WACC is 11%. What is the project's payback?
Round your answer to two decimal places.
years

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