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Compute the payback period for an investment with the following net cash flows. (Round your answer to one decimal place.) Net Cash Flows per Cumulative

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Compute the payback period for an investment with the following net cash flows. (Round your answer to one decimal place.) Net Cash Flows per Cumulative Net Year Year Cash Flows Initial investment $ (113, 000) $ (113, 000) 1. 11, 300 (101, 700) 2. 21, 300 (80, 400) 3. 21, 300 (59,100) 4. 42,580 (16,520) 5. 41, 300 24,780 6. 41, 300 66, 080 X Answer is complete but not entirely correct. Payback period 5.6 X years

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