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Discounted Payback A project has an initial cost of $40,000, expected net cash inflows of $9,000 per year for 7 years, and a cost of

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Discounted Payback A project has an initial cost of $40,000, expected net cash inflows of $9,000 per year for 7 years, and a cost of capital of 11%. What is the projects discounted payback period? (Hint: Begin by constructing a time line.) Do not round intermediate calculations. Round your answer to two decimal places. years

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