Question: A company is adding a new assembly line at a cost of $4.5 million. The firm expects the project to generate cash flows of $1M,

A company is adding a new assembly line at a cost of $4.5 million. The firm expects the project to generate cash flows of $1M, $2M, 3M, and $4M over the next 4 years. what is the payback period for this project? Please solve and how to solve step by step.

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