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Question 1 6 ( 1 0 points ) Listen A new project will have an intial cost of $ 1 4 , 0 0 0

Question 16(10 points)
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A new project will have an intial cost of $14,000. Cash flows from the project are expected to be $-4,000, $6,000, $8,000, and $12,000 over the next 4 years, respectively. Assuming a discount rate of 12%, what is the project's Payback Period?
Question 16 options:
3.13
3.67
3.33
3.60
3.47

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