A company is planning to start an investment, which has an initial investment of $ 215 million. The management has already forecasted all future cash flows from this project: $55 million each year, for the next 7 years. At the end of year 4 the machine has to be revised, which will cost $60 million. The investment (machinery etc) will be sold at the end of year 7 for a price of $35 million. The MARR is 10% annual nominal, compounded semi-annually.

a) Calculate the discounted Payback period

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