A new piece of control equipment has a capital cost of $$92,053$

but will provide $$15,589$ in additional income into the foreseeable

future. Assume a discount rate of $9\%$ and determine the payback

period. Express your answer to one decimal place.

Note this problem will award credit for $\frac{+}{-}0\mathrm{.}5$ years from the

true value.