The Seattle Corporation has been presented with an investment opportunity which will yield cash flows of$30,000 per year in years 1 through 4,$35,000 per year in years 5 through 9,and$40,000 in year 10.This investment will cost the firm$150,000 today,and the firm's cost of capital is 10%.The payback period for this investment is closest to:

 

　　A.4.86 years.

 

　　B.5.23 years.

 

　　C.6.12 years.

 

　　Answer=A

 

　　With$30,000 unrecovered cost in year 5,and$35,000 cash flow in year 5;$30,000/$35,000=0.86 years:4+0.86=4.86 years.

 

　　解析：

 

　　先看问题，这道题求的是Payback Period，所以算年限就可以了，就不需要直接列出所有的年份，也不需要任何的折现。那先看15万的金额，在第五年就可以还清，而且还有剩余，那切实的就是第五年30000/35000得到0.86。也就可得总额是4.86。这类题，payback period只要数年份就可以了（处理一下******一年）。