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Problem 10-5 Payback A project has an initial cost of $54,125, expected net cash inflows of $12,000 per year for 9 years, and a cost

Problem 10-5

Payback

A project has an initial cost of $54,125, expected net cash inflows of $12,000 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.

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