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What is the payback period on popeye purchase

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Reference no: EM132406684

What is the payback period on Popeye's purchase of a new pleasure boat for his tourist business? The expected cash flows appear below. (note: payback is in years; round to 2 decimals)

Year 0 cash flow = -11,400,000

Year 1 cash flow = 3,100,000

Year 2 cash flow = 4,100,000

Year 3 cash flow = 2,500,000

Year 4 cash flow = 4,400,000

Year 5 cash flow = 2,300,000

Year 6 cash flow = 3,300,000

Reference no: EM132406684

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