What is the discounted payback period? Enter your answer rounded to two decimal places Number

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 16P
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Peaceful Cruises wants to build a new cruise ship that has an initial investment of $100 million. It is estimated to provide an annual cash flow over the next 20
years of $16 million per year. The discount rate is 11%.
What is the discounted payback period? Enter your answer rounded to two decimal places
Number
Transcribed Image Text:Peaceful Cruises wants to build a new cruise ship that has an initial investment of $100 million. It is estimated to provide an annual cash flow over the next 20 years of $16 million per year. The discount rate is 11%. What is the discounted payback period? Enter your answer rounded to two decimal places Number
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