Question:
A project has a cost (projected outflow of ($14,000) in year 0.
This project has the following projected inflows in years 1-5:
year 1 $ 2,000
year 2 $ 4,000
year 3 $ 7,000
year 4 $ 7,000
year 5 $ 7,000.
When is the pay back? (year / months)___________________
If this firm has a payback policy of 3 years, will this project meet that criteria?_____________