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

Project L requires an initial outlay at t=0 of $60,000, its expected cash inflows are $14,000 per year for 11 years, and its wacc is 9%. What is the project's payback? Round your answer to two decimal places.
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