Craig's Car Wash Inc. is considering a project that has the following cash flow and cost of capital (r) data. What is the project's discounted payback?
r = 10.00% Year0
1
2
3
Cash flows?$900
$500
$500
$500
A. 1.88 years
B. 2.09 years
C. 2.29 years
D. 2.52 years
E. 2.78 years
Answer: B
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