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Project L requires an initial outlay at T = 0 of $ 7 0 , 0 0 0 . It's expected cash inflows are $

Project L requires an initial outlay at T

= 0

of $

70, 000 .

It's expected cash inflows are $

12, 000

per year for

12

years and it's WACC is

14 % .

What is the projects payback?

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