What is the payback period of a project that requires an initial cash outlay of $16,000 and provides cash flows of $4,500 in year 1, $5,500 in year 2, $6,500 in year 3, and $7,500 in year 4? Assume the appropriate discount rate is 10%.

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The Answer of What is the payback period of a project that requires an initial cash outlay of $16,000 and provides cash flows of $4,500 in year 1, $5,500 in year 2, $6,500 in year 3, and $7,500 in year 4? Assume the appropriate discount rate is 10%.

What Is the Payback Period of a Project That Requires