Robins Hardware is adding a new product line that will require an investment of $1,454,000. Managers estimate that this investment will have a10-year life and generate net cash inflows of $310,000 the firstyear, $270,000 the secondyear, and $260,000 each year thereafter for eight years. Compute the payback period. Round to one decimal place.

The payback in years is : ______