Raas Hardware is adding a new product line that will require an investment of $1512000

Homework: M 9 Homework B - Graded Save Score: 0 of 4 pts 3 of 9 (2 complete) HW Score: 11.11%, 4 of 36 p EM9-20 (similar to) Question Help Raas Hardware is adding a new product line that will require an investment of $1,512,000. Managers estimate that this investment will have a 10-year life and generate net cash inflows of $320,000 the first year, $280,000 the second year, and $250,000 each year thereafter for eight years. Compute the payback period. Round to one decimal place. The payback in years is