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Grits Inc. (GRIT) has invested in a new grit machine at a cost of $10,000. The investment is expected to produce cash flows of $6,000,
Grits Inc. (GRIT) has invested in a new grit machine at a cost of $10,000. The investment is expected to produce cash flows of $6,000, $4,000, $3,000, $2,000 and $1,000 over the next five years. What is the payback period for this project? Round your answer to two decimal places. E.g. 4.4523 years would be entered as 4.45
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