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A firm is evaluating a proposal which has an initial investment of $50,000 and has cash flows of $15,000 per year for five years. The

A firm is evaluating a proposal which has an initial investment of $50,000 and has cash flows of $15,000 per year for five years. The payback of the project is:

		a. 1.5 years
		b. 2 years
		c. 3.3 years
		d. 4 years

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