Brady Corp. is considering the purchase of a piece of equipment that costs $20,000. Projected net annual cash flows over the project’s life are: Year Net Annual Cash Flow 1 $ 3,000 2 8,000 3 18,000 4 9,000 The cash payback period is Group of answer choices
a. 2.50 years.
b. 2.31 years.
c. 2.29 years.
d. 2.40 years.