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Problem 10-05 Payback A project has an initial cost of $57,400, expected net cash inflows of $14,000 per year for 9 years, and a cost

Problem 10-05

Payback

A project has an initial cost of $57,400, expected net cash inflows of $14,000 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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