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Project D has an initial required investment of $950,000. The project will result in operating cash inflows of $200,000 per year for Years 1-3, $100,000

Project D has an initial required investment of $950,000. The project will result in operating cash inflows of $200,000 per year for Years 1-3, $100,000 per year for Years 4-9, and have no cash flows in Year 10 and beyond. Calculate the payback period for Project D.

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