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Compute and report the discounted payback period of the following FCF. The term of the project is 4 years. The initial outlay is $24 million

Compute and report the discounted payback period of the following FCF. The term of the project is 4 years. The initial outlay is $24 million (period 0). FCF in period 1 is $8 million. It grows at 20% for the following 3 years. The required rate of return is 12%. The terminal value is $5 million.

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