The payback period is 1.63 years,
What is payback period?
The time it takes to recoup the cost of the an investment is referred to as the payback period. It is simply the amount of time it takes an investment to break even. The payback period is crucial because people and businesses invest money primarily to be reimbursed. In general, an investment is more appealing the faster its payback is. Everyone can benefit from knowing the payback period, which can be calculated by dividing this same initial investment by the typical cash flows. Investors, financial experts, and businesses frequently use the payback period as a way to estimate investment returns.
To learn more about payback period
https://brainly.com/question/23149718
#SPJ4
