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(Discounted payback period) Gio's Restaurants is considering a project with the following expected cash flows: Year Project Cash Flow (millions) 0 S(240) 1 80 2

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(Discounted payback period) Gio's Restaurants is considering a project with the following expected cash flows: Year Project Cash Flow (millions) 0 S(240) 1 80 2 65 3 80 4 110 (Click on the icon in order to copy its contents into a spreadsheet.) If the project's appropriate discount rate is 12 percent, what is the project's discounted payback period? The project's discounted payback period is years. (Round to two decimal places.)

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