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The following information is available for a potential investment the Lee Corporation is considering: Initial Investment $120,000 Annual net cash flows 27,500 Annual net income

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The following information is available for a potential investment the Lee Corporation is considering: Initial Investment $120,000 Annual net cash flows 27,500 Annual net income 15,000 Salvage value 20,000 Useful life 8 years The investment's payback period is closest to: a. 5.1 years b. 4.4 years c. 6.7 years O d. 3.6 years

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