What is the investment payback period

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Reference no: EM131838978

Nakamichi Bancorp has made an investment in banking software at a cost of $1,557,750. Management expects productivity gains and cost savings over the next several years. If, as a result of this investment, the firm is expected to generate additional cash flows of $676,489, $746,658, $453,190, and $343,205 over the next four years, what is the investment’s payback period? (Round answer to 2 decimal places, e.g. 15.25.) Payback period is years.

Reference no: EM131838978

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