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A firm with a 10.5 percent cost of capital is considering a project for this years capital budget. The projects expected after-tax cash flows are

A firm with a 10.5 percent cost of capital is considering a project for this years capital budget. The projects expected after-tax cash flows are as follows: Year: 0 1 2 3 4 Cash flow: -$13,000 $4,600 $4,800 $5,300 $6,200 Calculate the projects payback period.

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