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3 An investment project has annual cash inflows of: Year Cash Flow 0 -135,000 1 33,000 2 32,000 31, 000 30,000 5 15, 000 6 7,000 7 3,000 The Discount Rate is 3%. What is the discounted payback period for these cash flows if the initial cost is $135,000? Round the final answer to 2 decimal places.) 4