We study the scattering of three gravitons in M-atrix theory at finite N. With a specific choice of the background we obtain the complete result up to two loops. The contributions from three-body forces agree with the ones presented in recent papers. We extend the calculation and evaluate the recoil effects as well. Such terms, somewhat difficult to isolate and compute, had been neglected so far in the existing literature. We show that the result we have obtained from M-atrix theory precisely matches the result from one-particle reducible tree diagrams in eleven-dimensional supergravity .
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