The Mayfield Company is considering a project that will require an initial investment of $24,000 and is expected to generate future cash flows of $3,000 each year for the next 10 years.
Required: Calculate the payback period in years.

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The Answer of The Mayfield Company is considering a project that will require an initial investment of $24,000 and is expected to generate future cash flows of $3,000 each year for the next 10 years.
Required: Calculate the payback period in years.

The Mayfield Company Is Considering a Project That Will Require