Project A requires a ($ 280,000) initial investment for new machinery. Project (A) is expected to yield

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Project A requires a \(\$ 280,000\) initial investment for new machinery. Project \(A\) is expected to yield income of \(\$ 20,000\) per year and net cash flow of \(\$ 70,000\) per year for the next five years. Compute Project A's payback period.

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