Oceanview Manufacturing Is Considering an Investment That Would Require an Initial

Oceanview Manufacturing is considering an investment that would require an initial net investment of $660,000. The following revenues/expenses relate exclusively to the investment: The investment will have a residual value of $50,000 at the end of its 12 year useful life. What is the payback period for this investment?

A) 1) 78 years
B) 3) 07 years
C) 2) 59 years
D) 2) 24 years