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M plc is evaluating three possible investment projects and uses a 10% discount rate to determine their net present values. Investment $000 Initial investment 400

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M plc is evaluating three possible investment projects and uses a 10% discount rate to determine their net present values. Investment $000 Initial investment 400 Incremental cash flows Year 1 100 Year 2 120 Year 3 140 Year 4 120 Year 5 Net present value 100 39 What is the payback period of investment A

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