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Question(s) / Instruction(s):

Sewart Associates is considering a project that has the following cash flow data.  What is the project\'s payback?

Year             Cash flow

0                   ($1,000)

1                     $300

2                     $310

3                     $320

4                     $330

5                     $340

a)            2.11 years

b)            2.34 years

c)            2.60 years

d)            2.89 years

e)            3.21 years

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