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Project X Initial Outlay $8,610 Year 1 $3,190 Year 2 $3,290 Year 3 $3,750 Year 4 $7,470 Find the Payback period for the following project:

Project X

Initial Outlay

$8,610

Year 1

$3,190

Year 2

$3,290

Year 3

$3,750

Year 4

$7,470

Find the Payback period for the following project: The answer should be calculated to two decimal places.

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