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Payback A project has an initial cost of $55,000, expected net cash infiows of $15,000 per year for 8 years, and a cost of capital

Payback A project has an initial cost of $55,000, expected net cash infiows of $15,000 per year for 8 years, and a cost of capital of 12 What is the project's payback period? Round your answer to two decimal places. years

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