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DAYTONA Inc. is evaluating a project that will cost the company $250,000. The project is expected to provide the following cash flows:
Year 1 $80,750Year 2 $93,450Year 3 $40,235Year 4 $145,655
Problem 1: What is the payback period of this project?
Option 1: 4.24 years
Option 2: 4.0 years
Option 3: 2.92 years
Option 4: 3. 58 years
Option 5: 3.24 years
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