Question: A company is considering a 4-year project that would require an intial cash outflow in the amount of $500,000 at the beginning of project (i.e.

A company is considering a 4-year project that would require an intial cash outflow in the amount of $500,000 at the beginning of project (i.e. t=0). The project has expected cash inflows in the amount of $200,000 at the end of each of the 4 years. The company requires a 12% return on investment. How many years is the payback period for this project?

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