Peaceful Cruises wants to build a new cruise ship that has an initial investment of $150 million.
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Question:
- Peaceful Cruises wants to build a new cruise ship that has an initial investment of $150 million. It is estimated to provide an annual cash flow over the next 15 years of $20 million per year. The discount rate is 7%. What is the discounted payback period? Enter your answer rounded to two decimal places
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