Robinson Hardware is adding a new product line that will require an investment of $ 1 comma 460 comma 000. Managers estimate that this investment will have a 10-year life and generate net cash inflows of $ 310 comma 000 the first year, $ 275 comma 000 the second year, and $ 250 comma 000 each year thereafter for eight years. The investment has no residual value. Compute the payback period.