What is the payback period for project

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Reference no: EM132018123

Fairfax Pizza is evaluating a project that would cost 76,000 dollars today. The project is expected to have the following other cash flows: 29,200 dollars in 1 year, 28,600 dollars in 2 years, 41,364 dollars in 3 years, and 9,700 dollars in 4 years. The cost of capital of the project is 9.09 percent. What is the payback period for the project? Round your answer to 2 decimal places (for example, 2.89, 14.70, or 6.00).

Reference no: EM132018123

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