Cardinal Company is considering a five-year project that would require a $2,750,000 investment in equipment...
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Cardinal Company is considering a five-year project that would require a $2,750,000 investment in equipment with a useful life of five years and no salvage value. The company's discount rate is 18%. The project would provide net operating income in each of five years as follows: Click here to view Exhibit 148-1 and Exhibit 148-2, to determine the appropriate discount factor(s) using table. 7. What is the project's payback period? (Round your answer to 2 decimal places.)
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