McGlothin Inc. is considering a project that has the following cash flow data. What is the project's payback?
Year0
1
2
3
Cash flows?$1,150
$500
$500
$500
A. 1.86 years
B. 2.07 years
C. 2.30 years
D. 2.53 years
E. 2.78 years
Answer: C
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