A shoe manufacturer is evaluating new equipment that would custom fit athletic shoes. The new equipment costs $107,000 and will generate $43,000 in net cash flows for five years. Note: Negative cumulative cash flows should be indicated with a minus sign. Round break-even time answers to two decimal places. Determine the break-even time for this equipment. Present Present Value Cumulative Present Year Net Cash Flow x Value of 1 = at 15% of Net Cash Flows Value of Net Cash Flows Initial investment $ (107,000) x 1.0000 = $ (107,000) $ (107,000) Year 1 43,000 x 0.8696 = Year 2 43,000 x 0.7561= Year 3 43,000 x 0.6575 = Year 4 43,000 x 0.5718 = Year 5 43,000 x 0.4972 = 3.23 years