(Ignore income taxes in this problem.)Ostermeyer Corporation is considering a project that would require an initial investment of $247,000 and would last for 7 years.The incremental annual revenues and expenses for each of the 7 years would be as follows: At the end of the project, the scrap value of the project's assets would be $16,000.
Required:
Determine the payback period of the project.Show your work!

Question

(Ignore income taxes in this problem.)Ostermeyer Corporation is considering a project that would require an initial investment of $247,000 and would last for 7 years.The incremental annual revenues and expenses for each of the 7 years would be as follows:  At the end of the project, the scrap value of the project's assets would be $16,000.
Required:
Determine the payback period of the project.Show your work!

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The Answer of (Ignore income taxes in this problem.)Ostermeyer Corporation is considering a project that would require an initial investment of $247,000 and would last for 7 years.The incremental annual revenues and expenses for each of the 7 years would be as follows:  At the end of the project, the scrap value of the project's assets would be $16,000.
Required:
Determine the payback period of the project.Show your work!

(Ignore Income Taxes in This Problem