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Proposals L and K each cost $600,000, have 6 -year lives, and have expected total cash inflows of $720,000. Proposal L is expected to provide

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Proposals L and K each cost $600,000, have 6 -year lives, and have expected total cash inflows of $720,000. Proposal L is expected to provide equal annual net cash flows of $170,000, while the net cash flows for Proposal K are as follows: Determine the cash payback period for each proposal. Round your answers to two decimal places. Proposal L years Proposal K years

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