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Find the Payback period for the following investment. Initial cash investment at the beginning of year 1 is $8,230. End of the year cash inflows

Find the Payback period for the following investment. Initial cash investment at the beginning of year 1 is $8,230.

End of the year cash inflows	Investment opportunity X
Year 1	$3,100
Year 2	$3,730
Year 3	$3,660
Year 4	$6,980

The answer should be calculated to two decimal places.

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