What is the payback period for this project?
2. Assume the following facts:
• A project will cost $45,000 to develop.
• When the system becomes operational after a one-year development period, operational costs will be $9,000 during each year of the system’s five-year useful life.
• The system will produce benefits of $30,000 in the first year of operation, and this figure will increase by a compound 10% each year.
The first step is to calculate the cumulative costs and benefits, as follows:
Using this data, you can create the following chart, which indicates a payback period of two years:
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