A firm with a 12 percent cost of capital is considering a pr…
A firm with a 12 percent cost of capital is considering a project for this year’s capital budget. The project’s expected after-tax cash flows are as follows: Year: 0 1 2 3 4 Cash flow: -$15,000 $6,900 $6,600 $5,600 $7,200 Calculate the project’s payback period.