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Project L costs $ 5 0 , 0 0 0 , its expected cash inflows are $ 1 2 , 0 0 0 per year

Project L costs $

50, 000,

its expected cash inflows are $

12, 000

per year for

8

years, and its WACC is

12 % .

What is the project's discounted payback? Do not round intermediate

calculations. Round your answer to two decimal places.

years

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