Young Corporation is considering purchasing equipment that costs $80,000 and is expected to provide the following cash inflows over its five-year useful life: YearCash Inflow1$18,000 2$22,000 3$24,000 4$16,000 5$9,000 What is the payback period of this investment project? (Rounded to the nearest year.)
A. 4 years
B. 3 years
C. 6 years
D. 2 years
Answer: A
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