Joe's Hardware is adding a new product line that will require an imvestment of $1,476,000. Managers estimate that this investment will have a 10 -year life and generate net cash inflows of $320,000 the first year, $300,000 the second year, and $260,000 each yoar thereaher for eight years. Compute the payback, period. Round to one decimal place. The paytsck in years is