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Payback A project has an initial cost of $58,675, expected net cash inflows of $10,000 per year for 8 years, and a cost of capital

Payback

A project has an initial cost of $58,675, expected net cash inflows of $10,000 per year for 8 years, and a cost of capital of 11%. What is the project's payback period? Round your answer to two decimal places.

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