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A project has the following cash flows: Year 0: -$130,000 Year 1: $60,000 Year 2: $0 Year 3: $100,000 Year 4: $0 Year 5: $60,000

A project has the following cash flows:

Year 0: -$130,000

Year 1: $60,000

Year 2: $0

Year 3: $100,000

Year 4: $0

Year 5: $60,000

The discount rate is 18%. Calculate the payback period.

Need exact answer- not approximate:

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