Question:

An investment project provides cash inflows of $600 per year for eight years. What is the project payback period if the initial cost is $1,625? What if the initial cost is $3,225? What if it is $5,100? What is the project payback period if the initial cost is $1,625? What is the project payback period if the initial cost is $3,225? What is the project payback period if the initial cost is $5,100?

Note: Please provide reasons to support your answer.