First Choice Carpets is considering purchasing new weaving equipment costing $ 734 comma 000. The company's management has estimated that the equipment will generate cash inflows as follows: Year 1 $ 214 comma 000 2 214 comma 000 3 254 comma 000 4 254 comma 000 5 154 comma 000 Considering the residual value is zero, calculate the payback period. (Round your answer to two decimal places.)
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Home » Business » First Choice Carpets is considering purchasing new weaving equipment costing $ 734 comma 000. The company's management has estimated that the equipment will generate cash inflows as follows: Year 1 $ 214 comma 000 2 214 comma 000 3 254 comma 000 4