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A project will produce cash inflows of $2,800 a year for 4 years with a final cash inflow of $5,700 in year 5. The project's

A project will produce cash inflows of $2,800 a year for 4 years with a final cash inflow of $5,700 in year 5. The project's initial cost is $9,500. What is the Payback period of this project if the required rate of return is 16 percent?

Question 12 options:

2 years

4 years

1 year

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