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You are given the following information for a potential capital budgeting project: The initial investment is $500. The life of the project is 3 years

You are given the following information for a potential capital budgeting project: The initial investment is $500. The life of the project is 3 years with the following cash flows during years 1, 2 and 3, respectively: $350, $100 and $250. The WACC is 12%. What is the Payback Period for this project?

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