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Compute the payback statistic for Project A if the appropriate cost of capital is 9 percent and the maximum allowable payback period is four years.

Compute the payback statistic for Project A if the appropriate cost of capital is 9 percent and the maximum allowable payback period is four years. (Round your answer to 2 decimal places.)

Project A
Time: 0 1 2 3 4 5
Cash flow: $2,700 $1,030 $990 $860 $640 $440

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