Amelia's Napkins and accessories, Inc. is considering making an investment in a new production machine. the firm has est

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Amelia's Napkins and accessories, Inc. is considering making an
investment in a new production machine. the firm has estimated that
the machine has a useful life of three years. At the end of the
three years, You expect all of your investment to be worthless. The
total investment required to open this enterprise is $12,000.
Your after- tax cash flow is expected to be $3,000 per year and
your required rate of return for this project is 12 percent. The
payback period for this project is _____ years.
1) 1
2) 3
3) 2
4) 4
5) None of the answers provided is correct