Your required rate of return is 12 percent. If you invest $3,500 today you will...
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Your required rate of return is 12 percent. If you invest $3,500 today you will receive the following cash flows: $2000 at t=1, $400 at t=2, $900 at t=3, $2000 at t=4. Calculate the Payback Period of the project.
A. 2.8 years
B. 2.9 years
C. 3.0 years
D. 3.1 years
E. 3.2 years
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