Question: eBook Problem 10-05 Payback A project has an initial cost of $55,050, expected net cash inflows of $11,000 per year for 7 years, and a

eBook Problem 10-05 Payback A project has an initial cost of $55,050, expected net cash inflows of $11,000 per year for 7 years, and a cost of capital of 11%. What is the project's payback period? Round your answer to two decimal places

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