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Your required rate of return is 12 percent. If you invest $3,500 today you will...

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Finance

Your required rate of return is 12 percent. If you invest $3,500 today you will receive the following cash flows: $2000 at t=1, $400 at t=2, $900 at t=3, $2000 at t=4. Calculate the Payback Period of the project.

A. 2.8 years

B. 2.9 years

C. 3.0 years

D. 3.1 years

E. 3.2 years

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