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A project has an initial cost of $6,500. The cash inflows are $900, $2,200, $3,600, and $4,100 over the next four years, respectively. What is
A project has an initial cost of $6,500. The cash inflows are $900, $2,200, $3,600, and $4,100 over the next four years, respectively. What is the payback period?
Please show work. Options:
a) 1.73 years
b) 2.51 years
c) 2.94 years
d) 3.51 years
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