Question: 2 decimal points please A project has an initial cost of $60,000, expected net cash inflows of $15,000 per year for 8 years, and a

2 decimal points please

A project has an initial cost of $60,000, expected net cash inflows of $15,000 per year for 8 years, and a cost of capital of 11% What is the project's payback period? Round your answer to two decimal places. years

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