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Young Corporation is considering purchasing equipment that costs $50,000 and is expected to provide the following cash inflows over its five-year useful life: Year 1

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Young Corporation is considering purchasing equipment that costs $50,000 and is expected to provide the following cash inflows over its five-year useful life: Year 1 2 3 4 5 Cash Inflow $12,000 $ 16,000 $18,000 $ 4,000 $ 3,000 What is the payback period of this investment project? (Rounded to the nearest year.)

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