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Paramount Carpets is considering purchasing new equipment costing $730,000. The company's ...

Paramount Carpets is considering purchasing new equipment costing $730,000. The company's management has estimated that the equipment will generate cash flows as follows:

Year 1   $204,000
2   204,000
3   266,000
4   266,000
5   150,000

Considering the residual value is zero, calculate the payback period. (Round your answer to two decimal places.)
A) 4.61 years
B) 3.21 years
C) 3.70 years
D) 3.42 years

Textbook

Horngren's Financial & Managerial Accounting, The Financial Chapters

Edition: 5^th

Authors: Miller-Nobles, Mattison, Matsumura

Read 645 times

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