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A capital investment project requires an investment of 50,000 and has an expected life of four years. Annual cash flows, which occur evenly throughout the

A capital investment project requires an investment of 50,000 and has an expected life of four years. Annual cash flows, which occur evenly throughout the year, are expected to be as follows: Year 1 10,000; year 2 20,000; year 3 30,000; year 4 40,000. Payback for the project is

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