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Profect L requires an intial outiay at t=0 of $63,000, its expected cash infliows are $12,000 per year for 12 years, and its wace is

Profect L requires an intial outiay at t=0 of $63,000, its expected cash infliows are $12,000 per year for 12 years, and its wace is 11%. What is the project's poyback? Round your answer to two decimal ploces. years

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