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Find the Payback period for the following investment opportunity. Initial Cash Investment at the beginning of year 1 is $19,000. End of the year cash
Find the Payback period for the following investment opportunity. Initial Cash Investment at the beginning of year 1 is $19,000.
| End of the year cash inflows: | Investment opportunity Y |
| Year 1 | $5,930 |
| Year 2 | $5,710 |
| Year 3 | $5,160 |
| Year 4 | $7,370 |
The answer should be calculated to two decimal places.
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