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Consider a project that requires an initial investment of $503, pays $106 one year from today (at t = 1), pays $206 two years from
Consider a project that requires an initial investment of $503, pays $106 one year from today (at t = 1), pays $206 two years from today (at t = 2), and pays $358 three years from today (at t = 3). Rounded an accurate to three decimal places, what is the payback period for this project?
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