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A company invests $1,000,000 in a product that yields discrete end-of-year revenues with the following functional form: f(t) = $400,000(0.95)t , t = 1, 2,

A company invests $1,000,000 in a product that yields discrete end-of-year revenues with the following functional form: f(t) = $400,000(0.95)t , t = 1, 2, , n, where t is measured in years. It incurs continuous costs having the following functional form: f(t) = $100,000, 0 < t < n, where t is measured in years. Based on a discount rate of 8% compounded continuously, use SOLVER to calculate the discounted payback period for the investment. Show your answer to two decimal places.

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