A shoe manufacturer is evaluating new equipment that would custom fit athletic shoes. The new equipment costs $109,000 and will generate $42,000 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 Present Value Year Net Cash Flow x Value of 1 = of Net Cash at 12% Flows Cumulative Present Value of Net Cash Flows Initial investment $ (109,000) x 1.0000 = $ (109,000) $ (109,000) Year 1 42,000 x 0.8929 = Year 2 42,000 x 0.7972= Year 3 42,000 x 0.7118= Year 4 42,000 x 0.6355= Year 5 42,000 x 0.5674 = (Round break-even time answers to two decimal places.)