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Consider an investment with an initial cost of $ 2 4 , 0 0 0 and is expected to last for 6 years. The expected

Consider an investment with an initial cost of $24,000 and is expected to last for 6 years. The expected cash flow in years 1 and 2 are $5,500, in years 3 and 4 are $7,500 and in years 5 and 6 are $8,500. Compute the payback period in years.
A.
2.27 years
B.
3.73 years
C.
2.97 years
D.
4.08 years
E.
3.20 years

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