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What is the payback period for the following set of cash flows? (Round your answer to 2 decimal places, e.g., 32.16.) Year Cash Flow 0

What is the payback period for the following set of cash flows? (Round your answer to 2 decimal places, e.g., 32.16.)

Year Cash Flow

0 $ 4,700

1 1,200

2 1,400

3 1,800

4 1,300

Please show work.

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