WO Payback, Accounting Rate of Return, Net Present Value, Intermal Rate of Re Return Blaylock Company wants to buy a numerically controlled (NC) machine to be used in producing specially machined parts for manufacturers of trenching machines. The outlay required is $900,000. The NC equipment will last five years with no expected salvage value. The expected after-tax cash flows associated with the project follow Cash Expenses Year Cash Revenues 1 $1,500,000 $1,300,000 2 1,500,000 1,300,000 3 1,300,000 4 1,500,000 1,500,000 1,500,000 1,300,000 5 1.300.000 Required: Compute the payback period for the NC quipment. Round your answer to on decimal place Payback period years