I just need the payback period. answers I got are correct for the other answers.

Question

I just need the payback period.

answers I got are correct for the other answers. I got the payback period wrong.

rate for AZMotorcars is 11 percent Consider the following cash flows of two mutually exclusive projects for AZ-Motorcars. Assume the discount AZM AZF Year Mini-SUV Full-SUV -$470,000-$000 820. 324,000 354,000 188,000 428,000 154,000 294,000 aWhat . is the payback period for each project? (Do not round intermediate calculations and round your answers to 2 decimal places (eg, 32.16)-) Payback period AZM Mini-SUV years AZF Full-SUV years b. What is the NPV for each project? (Do not round intermediate calculations and round your answers to 2 decimal places eg., 32.16 ).) NPV AZM Mini-SUV AZF Full-SUV c. What is the IRR for each project? (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places eg, 32.16).) IRR AZM Mini-SUV AZF Full-SUV

Explanation / Answer

Payback Period

AZM Mini - SUV

Payback period = 1 + 146000/188000

Payback period = 1.78 years

AZF Full - SUV

Payback period = 2 + 38000/294000

Payback period = 2.13 years

Working

Year AZM Mini - SUV Cumulative Cash Flow AZF Full - SUV Cumulative Cash Flow 0 -470000 -470000 -820000 -820000 1 324000 -146000 354000 -466000 2 188000 42000 428000 -38000 3 154000 196000 294000 256000

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