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I can not figure what formula to use for this problem Find the discounted payback period for the following project. The discount rate is 7%

I can not figure what formula to use for this problem

Find the discounted payback period for the following project. The discount rate is 7%

Project X

Initial Outlay $8,531

year 1 $3,412

Year 2 $3,588

Year 3 $5,249

Year 4 $7,878

Please round 2 decimal places

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