Question: 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

Robertson Hardware is adding a new product line that will require

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 $320,000 the first year. $290,000 the second year, and $250,000 each year thereafter for eight years. Compute the payback period. Round to one decimal place. The payback is years

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