Question: Project L requires an initial outlay at t = 0 of $51,000, its expected cash inflows are $13,000 per year for 7 years, and

Project L requires an initial outlay at t = 0 of $51,000,

Project L requires an initial outlay at t = 0 of $51,000, its expected cash inflows are $13,000 per year for 7 years, and its WACC is 13%. What is the project's payback? Round your answer to two decimal places. years

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