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P10-1 Payback period The Ball Shoe Company is considering an investment project that requires an initial investment of $542,000 and returns cash inflows of

P10-1 Payback period The Ball Shoe Company is considering an investment project that requires an initial investment of $542,000 and returns cash inflows of $75,000 per year for 10 years. The firm has a maximum acceptable payback period of eight years. a. Determine the payback period for this project. b. Should the company accept the project? Why or why not?

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