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Seattle, Inc., is contemplating a project that costs $190,000. Expectations are that annual cash revenues...

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Accounting

Seattle, Inc., is contemplating a project that costs $190,000. Expectations are that annual cash revenues will be $70,000 and annual expenses (including depreciation) will total $30,000. The project has a six-year useful life and a residual value of $40,000. Assume Seattle Inc. uses straight line method of depreciation. The project's payback period is

a. 2.14 years

b. 2.31 years

c. 2.77 years

d. 2.92 years

pls explain

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