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Complete the following table and compute the project's conventional payback period. Round the payback period to the nearest two sure to complete the entire

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Complete the following table and compute the project's conventional payback period. Round the payback period to the nearest two sure to complete the entire table-even if the values exceed the point at which the cost of the project is recovered. Expected cash flow Cumulative cash flow Conventional payback period: Year 0 -$6,000,000 $ Year 1 $2,400,000 $ years Year 2 $5,100,000 $ Year 3 $2,100,000 $ The conventional payback period ignores the time value of money, and this concerns Green Caterpillar's CFO. He has now asked you discounted payback period, assuming the company has a 7% cost of capital. discounted payback period to the nearest two decimal places. Again, be sure to complete the entire table-even if the values at which the cost of the project is recovered. Year 0 Year 1 Cash flow -$6,000,000 $2,400,000 Discounted cash flow $ $ Cumulative discounted cash flow $ $ Discounted payback period: years Year 2 $5,100,000 $ $ Year 3 $2,100,000 $ $ Which version of a project's payback period should the CFO use when evaluating Project Beta, given its theoretical superiority? The regular payback period The discounted payback period

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