Question: Find the payback period for the followingproject Project X Initial Outlay $8,700 Year 1 $3,870 Year 2 $3,060 Year 3 $3,940 Year 4 $6,780 The

Find the payback period for the followingproject

Project X
Initial Outlay $8,700
Year 1 $3,870
Year 2 $3,060
Year 3 $3,940
Year 4 $6,780
The answer should be calculated to two decimal places.

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