Ace Hardware is adding a new product line that will require an investment of $1,416,000 Managers estimate that this investment will have a 10 -year ife and genecate net eash inflows of $300,000 the frat year, $280,000 the second year, and $230,000 each ynar thereafter for eight years. Compute the paybsck period. Round to one decimal place. The payback in years is