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Question 5 O out of 1 points Project K has an initial cost of $61,995, and its expected net cash inflows are $18,000 per year for 6 years. The firm has a WACC of 12 percent, and Project K's risk would be similar to that of the firm's existing assets. What is Project K's payback period? Selected Answer: c. 3.00 years Answers: 4.00 years b. 3.12 years a. c. 3.00 years d. 3.64 years