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A company is considering the following investment: Initial investment: Annual cash inflows for 11 years: $307,000 $56,000 per year Salvage value at the end

A company is considering the following investment: Initial investment: Annual cash inflows for 11 years: $307,000 $56,000 per year Salvage value at the end of 11 years: $10,000 The company's discount rate is 10%. What is the Payback Period (in years) for this investment? (Please round to 2 decimal places.)

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