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Payback A project has an initial cost of $ 5 3 , 4 7 5 , expected net cash inflows of $ 1 3 ,

Payback

A project has an initial cost of $

53, 475,

expected net cash inflows of $

13, 000

per year for

9

years, and a cost of capital of

11 % .

What is the project's payback period? Round your answer to two decimal places.

years

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