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3. West End Co. is considering an investment in a new project. The project would have an initial start-up fee of $260,000. The company will

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West End Co. is considering an investment in a new project. The project would have an initial start-up fee of $260,000. The company will incur $20,000 of additional cash expenses each year due to theproject, butwill earnincomeof $42,000. Calculate the cash payback period, rounding answers to two decimal places.

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