the payback period is the time required to recover a project's initial investment. it is often used to assess things such
(1) financial risk,
(2) impact of an investment on liquidity,
(3) obsolescence risk. and
(4) impact of investment on performance measures.information:suppose that a new car wash facility requires an investment of $100,000 and either has;
(a) even cash flows of $50,000 per year or
(b) the following expected annual cash flows'$30,000 $40,000 $50,000 $60,000 and $70,000.required:calculate the payback period for each case.