What is the payback period for the following set of cash flows? (Round your answer to 2 decimal places, e.g., 32.16.) Solution SOLUTION figures in $ payback period= 3+ 50/1150 = 3.0434 yearsyearcash flowcumilative cash flow0(4,500)(4,500)11,050(3,450)21,250(2,200)32,150(50)41,1501,100.