Tapley Dental Associates is considering a project that has the following cash flow data. What is the project's payback?
Year: 0 1 2 3 4 5
Cash flows: -$1,000 $300 $310 $320 $330 $340
PAYBACK = point in time where the inital investment is completely recovered:
In a brief, concise response, this solution calculates the project's payback using step by step calculation.