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A company can purchase a piece of equipment for $3,180. The equipment has a three-year life and will produce cash inflows of $1,000 in each

A company can purchase a piece of equipment for $3,180. The equipment has a three-year life and will produce cash inflows of $1,000 in each of the first and second years and $2,340 in the third year. What is the project's simple payback period (in number of years) assuming that the cash inflows are received uniformly over each respective year?

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