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Find the Payback period for the following project: Project Y Initial Outlay $18,700 Year 1 $5,600 Year 2 $5,800 Year 3 $5,500 Year 4 $6,200

Find the Payback period for the following project: Project Y Initial Outlay $18,700 Year 1 $5,600 Year 2 $5,800 Year 3 $5,500 Year 4 $6,200 The answer should be calculated to two decimal places

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