2 of 4 E 1 Future Value of 1 TABLE 2 Future Value of an Annuity of 1 Diamond Company is considering investing in new equipment that will cost $1,400,000 with a 10 -year useful life. The new equipment is expected to produce annual net income of $90,000 over its useful life. Depreciation expense, using the straight-line rate, is $140,000 per year. Compute the cash payback period. (Round answer to 1 decimal places, e.g. 15.2.) Cash payback period years TABLE 3 Present Value of 1 TABLE 4 Present Value of an Annuity of 1