20b.) McGilla Golf has decided to sell a new line of golf clubs. The length of this project is seven years. The company has spent $193,761 on research and development for the new clubs. The plant and equipment required will cost $2,846,345 and will be depreciated on a straight-line basis. The new clubs will also require an increase in net working capital of $131,436 that will be returned at the end of the project. The annual OCF of the project will be $800,885. The tax rate is 28 percent, and the cost of capital is 9 percent. What is the payback period for this project?