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Find the payback period for the following project. The discount rate is 8% Initial Outlay $ $8,586 Year 1 $3,753 Year 2 $3,523 Year 3

Find the payback period for the following project. The discount rate is 8% Initial Outlay $ $8,586 Year 1 $3,753 Year 2 $3,523 Year 3 $5,322 Year 4 $6,350 The answer should be calculated to the two decimal places.

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