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Rachel Ltd. is buying a business corporate car at a cost of $3,500,000. The corporate car is expected to generate cash flows of $95000, $186,000,

Rachel Ltd. is buying a business corporate car at a cost of $3,500,000. The corporate car is expected to generate cash flows of $95000, $186,000, and $188,000 over the next 3 years. Assume same as last 3 years, company set target to recover initial outlay by 2 years. What is the payback period and should the project be accepted? Explain briefly

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