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Roberts Hardware is adding a new product line that will require an imvestment of $1,418,000. Managers estimale that this imvestment will have a 10-yoar ife and generate net cast infow ot $330,000 the first year, $300,000 the second yoar, and $250,000 each year thereatlor for eight years. Compute the payback period. Round to ane decimal place. The paybock in yoars is Sikes Hardware is adding a new product line that will recuire an investment of $1,418,000. Managers estimate that this mestment wil heve a 10 - 6 ar Me and generate net eash intown of 530,000 the frast year, $200,000 the second year, and $230,000 each yoar thereafter for eight yeors. Assume the project has no rosidual value. Compute the ARR for the investment Pesund to two plocis