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(Ignore income taxes in this problem.) Avanca Fitness Center is considering an investment in some additional weight training equipment. The equipment has an estimated useful

(Ignore income taxes in this problem.) Avanca Fitness Center is considering an investment in some additional weight training equipment. The equipment has an estimated useful life of 10 years with no salvage value at the end of the 10 years. Ataxia's internal rate of return on this equipment is 12%. Ataxia's discount rate is also 12%. The payback period on this equipment is closest to:

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