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#20 The following details are provided by a manufacturing company....

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Accounting

#20
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The following details are provided by a manufacturing company. Product line Investment $1,000,000 Useful life 12 years Estimated annual net cash inflows for first year $400,000 Estimated annual net cash inflows for second year $350,000 Estimated annual net cash inflows for next ten years $300,000 Residual value $50.000 Depreciation method Straight-line Required rate of return 12% Calculate the payback period for the investment. Depreciation method Straight-linel Required rate of return 12% Calculate the payback period for the investment. O 2.5 years O 2.83 years O 3.0 years O 3.5 years

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