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Project L costs $3,182, its expected cash inflows are $877 per year for 10 years, and its cost of capital is 11%. The project's (regular,
Project L costs $3,182, its expected cash inflows are $877 per year for 10 years, and its cost of capital is 11%. The project's (regular, i.e. "traditional") payback period is ______ years.
Round your answer to 2 decimal places (example: for 12.345 years, you should enter 12.35).
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