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A project has an initial cost of $22,000.00, expected net cash inflows of $3,244.84 per year for 9 years, and a cost of capital of

A project has an initial cost of $22,000.00, expected net cash inflows of $3,244.84 per year for 9 years, and a cost of capital of 11.0%. What is the project's payback period?

6.23

2.51

6.78

4.95

3.97

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