A shoe manufacturer is evaluating new equipment that would custom fit athletic shoes. The new equipment costs $114,000 and will generate $45,000 in net cash flows for five years. (Negative cumulative cash flows should be indicated with a minus sign.) Determine the break-even time for this equipment. Present Year Net Cash Flow x Value of 1 Present Value of Net Cash Cumulative Present at 10% Flows Value of Net Cash Flows Initial investment $ (114,000) x 1.0000 $ (114,000) $ (114,000) Year 1 45,000 x 0.9091 Year 2 45,000 x 0.8264 Year 3 45,000 x 0.7513 Year 4 45,000 x 0.6830 Year 5 45,000 x 0.6209 (Round break-even time answers to two decimal places.)