Question: NOTE: This question uses the same BYOD example as the prior question A company has determined that implementing a new bring your own device (

NOTE: This question uses the same BYOD example as the prior question
A company has determined that implementing a new "bring your own device" (BYOD) strategy for sales agents in the company will require the purchase of mobile device management software to adequately manage and control corporate data. The total cost of the investment including software licenses, training, certification, and hardware is expected to be as follows:
Year 1: $802,000; Year 2: $670,000; Year 3: $201,000; Year 4: $120,000; Year 5: $58,000
The solution is expected to create savings on PC and software costs for sales agents, and generate new sales due to an increase in sales force efficiency. The net benefits are expected to be as follows:
Year 1: $10,000; Year 2: $220,000; Year 3: $635,000; Year 4: $1,237,000; Year 5: $2,155,000
What is the payback period for this investment? (round to the nearest year)
1 year
2 years
3 years
4 years
5 years
6 years
7 years

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