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Based on the information below, calculate the payback period. Investment $300,000 Required rate of return 9% Depreciation method Straight Line Useful life 7 years Residual

Based on the information below, calculate the payback period.

Investment		$300,000
Required rate of return		9%
Depreciation method		Straight Line
Useful life		7 years
Residual value		$30,000
Estimated net cash inflows
per year for five years		$60,000

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