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Wayne Company is considering a long-term investment project called ZIP. ZIP will require an investment of $126,000. It will have a useful life of 4

Wayne Company is considering a long-term investment project called ZIP. ZIP will require an investment of $126,000. It will have a useful life of 4 years and no salvage value. Annual cash inflows would increase by $79,100, and annual cash outflows would increase by $40,700. Compute the cash payback period. (Round answer to 2 decimal places, e.g. 10.50.)

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