Robertson Hardware is adding a new product line that will require an investment of $1,476,000.

Managers estimate that this investment will have a 10-year life and generate net cash inflows of

$310,000 the first year, $270,000 the second year, and $250,000

each year thereafter for eight years. Compute the payback period. Round to one decimal place.

Part 1

The payback in years is