A project requires an initial investment of $331,020 and its expected life is 7 years. Net operating income from the project is expected to be $28,500 each year, including depreciation of $43,360. The salvage value of the assets is expected to be $27.500 at the end of the life of the project. Ignoring income taxes, the payback period is: (Round your answer to 2 decimal places.) Payback period years