Grits Inc. (GRIT) has invested in a new grit machine at a cost of $10,000. The investment is expected to produce cash flows of $6,000, $4,000, $3,000, $2,000 and $1,000 over the next five years. What is the payback period for this project? Round your answer to two decimal places. E.g. 4.4523 years would be entered as 4.45. Get Finance homework help today
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