A proposed project has an initial investment of $480,000. Profit projections are $100,000 in year one,...

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A proposed project has an initial investment of $480,000. Profit projections are $100,000 in year one, $120,000 in years two to five and $140,000 in each of years six to eight. What is the investment's payback period in years and months? A proposed project has an initial investment of $480,000. Profit projections are $100,000 in year one, $120,000 in years two to five and $140,000 in each of years six to eight. What is the investment's payback period in years and months?