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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 $(160) 1 92 2

(Discounted payback period) Gio's Restaurants is considering a project with the following expected cash flows:

Year

Project Cash Flow (millions)

0

$(160)

1

92

2

60

3

92

4

105

If the project's appropriate discount rate is

11 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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