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3. Melannie Bayless has purchased a business building for $332,000. She expects to receive the following cash flows over a 10-year period: Year 1: $43,500

3. Melannie Bayless has purchased a business building for $332,000. She expects to receive the following cash flows over a 10-year period: Year 1: $43,500 Year 2: $59,500 Year 3-10: $90,000 What is the payback period for Melannie? Round your answer to one decimal place. 4.8 X years What is the accounting rate of return? Enter your answer as a whole percentage value (for example, 16% should be entered as "16" in the answer box). %

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