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q12 Project L requires an initial outlay at t=0 of $45,000, its expected cash inflows are $11,000 per year for 9 years, and its Wacc

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Project L requires an initial outlay at t=0 of $45,000, its expected cash inflows are $11,000 per year for 9 years, and its Wacc is 8%. What is the project's discsunte payback? Do not round intermediate calculations. Round your answer to two decimal places. years

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