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Charlie's Hamburgers is considering adding pizza to its menu. The pizza require purchasing cooking equipment on sale for $ 5 5 , 0 0 0

Charlie's Hamburgers is considering adding pizza to its menu. The pizza require purchasing cooking equipment on sale for $55,000. The asset has a 6-year life, will produce a cash flow of $17,600 in the first year, $19,000 in the second year, $20,250 in the third year. $21,750 in the fourth year, $22,500 in the fifth year, and $23,000. The cost of capital is 10%. What is the project's Payback Period in years?

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