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Homer is considering a project with cash inflows of $950 in year 1, $900 in year 2, $1,000 in year 3 respectively. The project has
Homer is considering a project with cash inflows of $950 in year 1, $900 in year 2, $1,000 in year 3 respectively. The project has a required discount rate of 11 percent and an initial cost of $2,100. What is the discounted payback period?
A. 0-1 years
B. 1-2 years
C. 2-3 years
D. more than 3 years
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