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Payback A project has an initial cost of $70,000, expected net cash inflows of $11,000 per year for 9 years, and a cost of capital

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A project has an initial cost of $70,000, expected net cash inflows of $11,000 per year for 9 years, and a cost of capital of 13%. What is the project's payback period? Round your answer to two decimal places.

years

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