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Project L requires an initial outlay at t = 0 of $ 6 5 , 0 0 0 , its expected cash inflows are $

Project L requires an initial outlay at t=0 of $65,000, its expected cash inflows are $12,000 per year for 9 years, and its WACC is 9%. What is the
project's discounted payback? Do not round intermediate calculations. Round your answer to two decimal places.
years
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