What is the payback period of investment of vanhoe solutions

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Vanhoe Solutions, Inc., has just invested $4,191,200 in new equipment. The firm uses a payback period criteria of rejecting any project that takes more than four years to recover its costs. Management anticipates cash flows of $801,800, $782,400, $819,600, $1,699,800, $2,088,900, and $2,064,000 over the next six years. (Round answer to 2 decimal places, e.g. 15.25.)

Problem 1: What is the payback period of this investment?

Reference no: EM132917461

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