Question: A company is considering a project that would require a $3,000,000 intial cash outflow at the beginning. The project is expected to generate cash inflows

A company is considering a project that would require a $3,000,000 intial cash outflow at the beginning. The project is expected to generate cash inflows in the amount of $937,500 at the end of each year of the project. The company requires a 11.75% return on investment. How many years is the payback period for this project?

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