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Compute the payback period statistic for the following project and recommend whether the firm should accept or reject the project with the cash flow shown

Compute the payback period statistic for the following project and recommend whether the firm should accept or reject the project with the cash flow shown in the chart if the maximum allowable payback is 4 years

Time 0 1 2 3 4 5

Cash Flow -$1,000 $350 $480 $520 $300 $100

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