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Find the Payback period for the following project: Project X Initial Outlay $8,270 Year 1 $3,280 Year 2 $3,370 Year 3 $3,690 Year 4 $5,600

Find the Payback period for the following project:

Project X

Initial Outlay $8,270

Year 1 $3,280

Year 2 $3,370

Year 3 $3,690

Year 4 $5,600

The answer should be calculated to two decimal places.

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