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Peach Co. spends $630,000 for a new catnip sorting machine. Peach Co. expects net cash inflows of $160,000 per year for the next 12 years.

Peach Co. spends $630,000 for a new catnip sorting machine. Peach Co. expects net cash inflows of $160,000 per year for the next 12 years. What is the payback period?

Round your answer to 2 d.p.

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