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Project L costs $50,000, its expected cash inflows are $8,000 per year for 10 years, and its WACC is 10%. What is the project's payback?

Project L costs $50,000, its expected cash inflows are $8,000 per year for 10 years, and its WACC is 10%. What is the project's payback? Round your answer to two decimal places.

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