Caruso Hardware is adding a new product line that will require an investment of $1, 510,000. Managers estimate that this investment will have a 10-year life and generate net cash inflows of $300,000 the first year, $265,000 the second year, and $225,000 each year thereafter for eight years. The investment has no residual value. Compute the payback period. First enter the formula, then calculate the payback period. Full years + (Amount to complete recovery in next year/Projected cash inflow in next year) = Payback +(/) = years