Question: The initial outlay or cost for a four-year project is $900,000. The respective cash inflows for years 1, 2, 3 and 4 are: $700,000, $600,000,

The initial outlay or cost for a four-year project is $900,000. The respective cash inflows for years 1, 2, 3 and 4 are: $700,000, $600,000, $600,000 and $600,000. What is the discounted payback period if the discount rate is 6%?

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