What payback period for project that has initial investment

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Question 1: What is the payback period for a project that has an initial investment of $117,000 and $10,000 net cash inflow in the first year, with a $1,000 increase in net cash inflows each year thereafter for a total of 12 years?

Option 1) 8.5 years

Option 2) 7.6 years

Option 3) 11.7 years

Option 4) 12.0 years

Reference no: EM132502199

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