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2.  What is the simple payback period of a five-year project that costs $18,000 today and pays...

2.  What is the simple payback period of a five-year project that costs $18,000 today and pays an annual after-tax cash flow of $4,000? Assume the cost of capital is 15%.

a.  4 years        

b.  4.5 years     

c.  3.5 years     

d.  5 years

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