Question: Problem 1 1 . 0 5 ( Discounted Payback ) Project L requires an initial outlay at t = 0 of $ 7 0 ,

Problem 11.05(Discounted Payback)
Project L requires an initial outlay at t=0 of $70,000, its expected cash inflows are $16,000 per year for 9 years, and its WACC is 13%. What is the project's discounted payback? Do not round intermediate calculations. Round your answer to two decimal places.
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 Problem 11.05(Discounted Payback) Project L requires an initial outlay at t=0

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