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An analyst has gathered the following data about two projects, each with a 12% required rate of return.
| | Project A | Project B |
| Initial cost | $17,000 | $17,000 |
| Life | 8 years | 6 years |
| Cash inflows | $3,500/year | $4,500/year |
The payback period of project A is CLOSEST to:
Group of answer choices
4.3571 years
4.6571 years
4.1571 years
4.7571 years
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