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A project costs $525 and has cash flows of $100 for the first three years and $75 in each of the project's last five years.

A project costs $525 and has cash flows of $100 for the first three years and $75 in each of the project's last five years. What is the payback period of the project?

Select one:

a.

5.67 years

b.

6.00 years

c.

The project never pays back

d.

5.33 years

e.

5.00 years

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