A company wishes to buy new equipment for $15,500. The equipment is expected to generate an additional $4,700 in cash inflows for six years. All cash flows occur at year-end. A bank will make a $28,000 loan to the company at a 11% interest rate so that the company can purchase the equipment. Use the table below to determine break-even time for this equipment:

Year	Present Value of 1 at 11%
0	1.0000
1	0.9009
2	0.8116
3	0.7312
4	0.6587
5	0.5935
6	0.5346