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A project has an initial cost of $9,000 and cash inflows of $1,000, $3,000, $6,000, and $2,000 a year over the next four years, respectively.

A project has an initial cost of $9,000 and cash inflows of $1,000, $3,000, $6,000, and $2,000 a year over the next four years, respectively. What is the payback period?

2.83 years

3.28 years

3.00 years

2.50 years

2.38 years

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