An analyst has gathered the following data about two projects, each with a 12% required rate of return.
Project A
Project B
Initial cost
$17,000
Life
8 years
6 years
Cash inflows
$3,500/year
$4,500/year
The payback period of project A is CLOSEST to:
Group of answer choices
4.3571 years
4.6571 years
4.1571 years
4.7571 years
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