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Find the Payback period for the following project: Project X Initial Outlay $8,320 Year 1 $3,960 Year 2 $3,980 Year 3 $3,900 Year 4 $6,640

Find the Payback period for the following project:

Project X

Initial Outlay

$8,320

Year 1

$3,960

Year 2

$3,980

Year 3

$3,900

Year 4

$6,640

The answer should be calculated to two decimal places.

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