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What is the payback period? Find the paybacks for Projects L and S. What is the rationale for the payback method? According to the payback

What is the payback period? Find the paybacks for Projects L and S. What is the rationale for the payback method? According to the payback criterion, which project or projects should be accepted if the firm's maximum acceptable payback is 2 years, and if Projects L and S are independent. If they are mutually exclusive?*

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