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An investment has a cost $40,000 with net cash flows of $20,000 each year for 4 years. The company has a required rate of return of 8%. If the first four periods' discount factors, based on 8%, taken from a "present value of 1" table are 0.9259, 0.8573, 0.7938, 0.7350, what is the break-even time of the investment? - Between years 1 and 2 - 2 years - Between years 2 and 3 - Between years 3 and 4
Sagot :
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