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A firm is starting a new project that will cost $200,000. It is projected to last 5 years and to generate cash flows of $50,000,$70,000,$90,000,$50,000

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A firm is starting a new project that will cost $200,000. It is projected to last 5 years and to generate cash flows of $50,000,$70,000,$90,000,$50,000 and $30,000 from Years 1 through 5 respectively. If the discount rate is 10%, what is the payback perioc of this project? Round to the second decimal place. Type only numbers without any unit (\$, \%, etc.)

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