Levi's levees always evaluates projects using the payback method. what is the payback period for the following set of cash flows? (round your answer to 2 decimal places, e. g., 32.16.) year cash flow 0 –$ 4,900 1 1,150 2 1,350 3 2,230 4 1,250

3.14 years

Explanation:

Year              Cash flow                Accumulated cash flows

0                    -$4,900                            -$4,900

1                       $1,150                             -$3,750

2                      $1,350                            -$2,400  

3                     $2,230                                -$170

4                     $1,250                              $1,080

3 years + $170/$1,250 = 3.14

The payback period is 3.14 years, or 3 years, 1 month and 19 days.

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the first successful, urban blues recording, selling more than 75,000 copies, was made in year 1920.

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