Question: Please show all steps (excel formulas used or calculation steps) Project L costs $55,000, its expected cash inflows are $14,000 per year for 12 years,

 Please show all steps (excel formulas used or calculation steps) Project

Please show all steps (excel formulas used or calculation steps)

Project L costs $55,000, its expected cash inflows are $14,000 per year for 12 years, and its WACC is 9%. What is the project's payback? Round your answer to two decimal places. years

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