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Hardware is adding a new product line that will require an investment of $ 1 , 4 6 0 , 0 0 0 . Managers

Hardware is adding a new product line that will require an investment of $ 1,460,000. Managers estimate that this investment will have a10-year life and generate net cash inflows of $ 310,000 the first year, $ 265,000 the second year, and $ 220,000 each year thereafter for eight years. The investment has no residual value. Compute the payback period

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