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Project L requires an initial outlay at t=0 of $71,000, its expected cash inflows are $10,000 per year for 12 years, and its WACC IS

Project L requires an initial outlay at t=0 of $71,000, its expected cash inflows are $10,000 per year for 12 years, and its WACC IS 10%. What is the project's payback Round your answer to two decimal places. years

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