Question: A firm is evaluating a proposal which has an initial investment of $45,000 and has cash flows of $10,000 in year 1, $30,000 in year

A firm is evaluating a proposal which has an initial investment of $45,000 and has cash flows of $10,000 in year 1, $30,000 in year 2, and $10,000 in year 3. The cash flows are uniformly occurring throughout the year. The payback period of the project is ________

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