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E. A project has a benchmark is 3 years for payback period decision. Calculate the payback period given following cash flows. The project has an

A project has a benchmark is 3 years for payback period decision. Calculate the payback period given following cash flows. The project has an initial investment of $20,000. Give your decision to accept or reject with explanation!

Year 1 2 3 4 5

Cash flow $2,700 $8,300 $6,800 $4,800 $2,200

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