Current Attempt in Progress

Oriole Company is considering purchasing new equipment for $$347,900.$ It is expected that the equipment will produce net annual cash flows of $$49,000$ over its $10-$year useful life. Annual depreciation will be $$34,790.$ Compute the cash payback period. $($Round answer to $1$ decimal place, e$.$g$.10\mathrm{.}5.)$

Cash payback period $$ years