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Which of the following comes closest to the payback of a project that requires an initial investment of $1,000 and produces cash flow of $105
Which of the following comes closest to the payback of a project that requires an initial investment of $1,000 and produces cash flow of $105 beginning at the end of one year and continuing forever? The project required rate of return is 10%.
A. 4 years
B. 6 years
C. 8 years
D. 10 years
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