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Your firm uses the discounted payback method. Calculate the discounted payback for the following investment. A machine costs $220,000. After-tax cash inflows are expected to

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Your firm uses the discounted payback method. Calculate the discounted payback for the following investment. A machine costs $220,000. After-tax cash inflows are expected to be $120,000 per year for the next five years. Assume a discount rate of 10%. (Enter your answer accurate to two (2) decimal places)

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