Malkind Hardware is adding a new product line that will require an investment of $1,454,000. Managers estimate that this investment will have a 10-year life and generate net cash inflows of $300,000 the first year, $280,000 the second year, and $260,000 each year thereafter for eight years. Compute the payback period. Round to one decimal place.

Question 1, EM9-20 (sim... HW Score: 80%, 4 of 5 points Points: 0 of 1 Save Malkind Hardware is adding a new product line that will require an investment of $1,454,000. Managers estimate that this investment will have a 10-year life and generate net cash inflows of $300,000 the first year, $280,000 the second year, and $260,000 each year thereafter for eight years. Compute the payback period. Round to one decimal place. .. The payback in years is