Question

Cash flow data: payback

Taggart Inc. is considering a project that has the following cash flow data. What is the project's payback?

Year…………………….0…………….1………2…………3
Cash flows………….-$1,150………$500…….$500…….$500

a. 2.78 years
b. 2.53 years
c. 1.86 years
d. 2.07 years
e. 2.30 years

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