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Non-Uniform Cash Flows for Alvis Corp.

MGRACT-1NQKTX

Alvis Corp. has a cost of capital of 11% and is considering an investment of \$30,000. Data are as follows:

Year Cash Inflows
1 \$10,000
2 \$12,000
3 \$15,000
4 \$17,000
5 \$14,000

What is the payback period in years (round to two decimal places)?