Greenbriar Cotton Mill is spending $284,000 to update its facility.The company estimates that this investment will improve its cash inflows by $50,500 a year for 8 years.What is the payback period?
A)4.03 years
B)4.95 years
C)5.48 years
D)5.62 years
E)The project never pays back.

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The Answer of Greenbriar Cotton Mill is spending $284,000 to update its facility.The company estimates that this investment will improve its cash inflows by $50,500 a year for 8 years.What is the payback period?
A)4.03 years
B)4.95 years
C)5.48 years
D)5.62 years
E)The project never pays back.

Greenbriar Cotton Mill Is Spending $284,000 to Update Its Facility