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Problem Set 2 X Back to Assignment Attempts Keep the Highest / 1 9. Problem 10-05 (Payback) eBook Payback A project has an initial cost

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Problem Set 2 X Back to Assignment Attempts Keep the Highest / 1 9. Problem 10-05 (Payback) eBook Payback A project has an initial cost of $40,000, expected net cash inflows of $13,000 per year for 7 years, and a cost of capital of 12%. What is the project's payback period? Round your answer to two decimal places. years Grade it Now Save & Continue Continue without saving

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