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Chris Tellson invested in a project with a payback period of 4 years . The project earns $30,000 cash each year for 8 years .

Chris Tellson invested in a project with a payback period of 4 years. The project earns $30,000 cash each year for 8 years. Chriss required minimum rate of return is 8%. How much did Chris initially invest?

a. $7,500

b.$120,000

c.$240,000

d.$75,000

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