Calculate the payback (in number of years) of a 20-year project with a cost of $400,000 and
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Question:
Calculate the payback (in number of years) of a 20-year project with a cost of $400,000 and annual cash flows of $50,000 in years 1-10 and $25,000 in years 11-20. The company's required rate of return is 10%.
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