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Stenson, Inc., imposes a payback cutoff of three years for its international investment projects. Assume the company has the following two projects available. What is

Stenson, Inc., imposes a payback cutoff of three years for its international investment

projects. Assume the company has the following two projects available.

What is the payback period for each project?

(

Do not round intermediate calculations

and round your answers to

2

decimal places, e

.

., 32.16 .)

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