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find the payback period for the following project Project X Initial outlay $8,650 Year 1 $3,880 Year 2 $3,960 Year 3 $4,000 Year 4 $7,780

find the payback period for the following project

Project X

Initial outlay $8,650

Year 1 $3,880

Year 2 $3,960

Year 3 $4,000

Year 4 $7,780

The answer should be calculated to two decimal places

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