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Project L costs $55,000, its expected cash inflows are $12,000 per year for 7 years, and its WACC is 9%. What is the project's payback?

Project L costs $55,000, its expected cash inflows are $12,000 per year for 7 years, and its WACC is 9%. What is the project's payback? Round your answer to two decimal places.

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