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Project L costs $3,407, its expected cash inflows are $919 per year for 10 years, and its cost of capital is 12%. The project's (regular,
Project L costs $3,407, its expected cash inflows are $919 per year for 10 years, and its cost of capital is 12%. The project's (regular, i.e. "traditional") payback period is ______ years. Round to two decimal places.
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