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Find the payback period for the following project: The discount rate is 8%. Project X Initial Outlay $8462 Year 1 $3279 Year 2 $3391 Year

Find the payback period for the following project: The discount rate is 8%.

Project X

Initial Outlay

$8462

Year 1

$3279

Year 2

$3391

Year 3

$5199

Year 4

$6226

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