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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 $5,460

Year 2 $5,360

Year 3 $5,120

Year 4 $6,080

The answer should be calculated to two decimal places.

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