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Find the Payback period for the following investment opportunity. Initial Cash Investment at the beginning of year 1 is $18,600. End of the year cash

Find the Payback period for the following investment opportunity. Initial Cash Investment at the beginning of year 1 is $18,600.

End of the year cash inflows:

Investment opportunity Y

Year 1

$5,400

Year 2

$5,720

Year 3

$5,850

Year 4

$7,030

The answer should be calculated to two decimal places.

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