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A project has an initial cost of $60,000, expected net cash inflows of $14,000 per year...

A project has an initial cost of $60,000, expected net cash inflows of $14,000 per year for 7 years, and a cost of capital of 13%. What is the project's discounted payback period? (Hint: Begin by constructing a time line.) Do not round intermediate calculations. Round your answer to two decimal places.

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YEAR cash flows -$60,000 $14,000 $14,000 $14,000 $14,000 $14,000 $14,000 $14,000 pv @13% 1.0000 0.8850 0.7831 0.6931 0.6133 0

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