Question: Turlock, Inc. is considering a project with an initial cost of $25,000. The project will produce cash inflows of $8,000 a year for the first

Turlock, Inc. is considering a project with an initial cost of $25,000. The project will produce cash inflows of $8,000 a year for the first year and $10,000 a year for the following three years. What is the payback period?

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