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How to calculate Payback period explain this question step by step show all working. What is the payback period for the following project: Initial investment:

 How to calculate Payback period explain this question step by  step show all working.

What is the payback period for the following project: Initial investment: $100 million First year cash flows: $46 million Second year cash flows: $44 million Third year cash flows: $44 million Fourth year cash flows: $37 million

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