Question: Problem 10-5 Payback A project has an initial cost of $57,700, expected net cash inflows of $11,000 per year for 7 years, and a cost

Problem 10-5 Payback

A project has an initial cost of $57,700, expected net cash inflows of $11,000 per year for 7 years, and a cost of capital of 12%. What is the project's payback period? Round your answer to two decimal places.

______ years

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