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The Blue Goose is considering a project with an initial cost of $5 million. The project will produce cash inflows of $750000 a year for

The Blue Goose is considering a project with an initial cost of $5 million. The project will produce cash inflows of $750000 a year for the first three years and $1.2 million a year for the following five years. What is the payback period?

a) 5.29 years

b) 5.71 years

c) 6.71 years

d) none of the above

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