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Part $1$

Sikes Hardware is adding a new product line that will require an investment of $$1,454,000.$ Managers estimate that this investment will have a$10-$year life and generate net cash inflows of $$330,000$ the first$$ year, $$290,000$ the second$$ year, and $$240,000$ each year thereafter for eight years. Compute the payback period. Round to one decimal place.

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Part $1$

The payback in years is