Project L requires an initial outlay at t = 0 of $55,000, its expected cash inflows are $9,000 per year for 11 years, an
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Project L requires an initial outlay at t = 0 of $55,000, its expected cash inflows are $9,000 per year for 11 years, an
Project L requires an initial outlay at t = 0 of $55,000, itsexpected cash inflows are $9,000 per year for 11 years, and itsWACC is 10%. What is the project's payback? Round your answer totwo decimal places.