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Find the payback period for the following project: Project Y Initial Outlay $19,000 Year 1 $5, 290 Year 2 $5,090 Year 3 $ 5,620 Year

Find the payback period for the following project:

Project Y

Initial Outlay $19,000

Year 1 $5, 290

Year 2 $5,090

Year 3 $ 5,620

Year 4 $ 7,620

The answer should be calculated to two decimal places

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