Calculate payback period and discounted payback period for the following project if the discount rate...

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Finance

Calculate payback period and discounted payback period for the following project if the discount rate is 10%

The initial outlay or cost for a four-year project is $1,300,000. The respective cash inflows for years 1, 2, 3 and 4 are: $700,000, $500,000,$500,000 and $300,000.

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