Compute the payback period for an investment with the following net cash flows. (Round your answer to one decimal place.) Net Cash Flows per Year $ (110,000) 11,000 21,000 Cumulative Net Cash Flows $ (110,000) (99,000) (78,000) 21,000 (57,000) (32,800) 8,200 49,200 Year Initial investment 24,200 41,000 41,000 Answer is complete but not entirely correct. 3.0 years Payback period

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