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Newman Inc. is considering a project that has the following cash flow data. What is the project's payback? Year 0 1 2 3 Cash flows

Newman Inc. is considering a project that has the following cash flow data. What is the project's payback?

Year 0 1 2 3

Cash flows -$500 $150 $200 $300

Options: 2.5 Years, 2 years, 3.21 Years, 1.85 years, 2.21 Years

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