Question: Problem 11.05 (Discounted Payback) Project L requires an initial outlay at t = 0 of $30,000, its expected cash inflows are $8,000 per year for
Problem 11.05 (Discounted Payback)
Project L requires an initial outlay at t = 0 of $30,000, its expected cash inflows are $8,000 per year for 9 years, and its WACC is 10%. What is the project's discounted payback? Do not round intermediate calculations. Round your answer to two decimal places
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