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Kayak Rentals is considering an investment project that would cost $26,900 initially and is expected to generate annual cash flows of $3,200 for 8 years.

Kayak Rentals is considering an investment project that would cost $26,900 initially and is expected to generate annual cash flows of $3,200 for 8 years. If the discount rate is 9 percent, what is the discounted payback period?

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