An asset costs $400,000, has a six-year useful life and generates a net annual cash flow of $250,000 for the first year. Management thinks net annual cash flow for this investment will go down 60% per year in years two and three of its useful life. Then the net annual cash flow will go down 75% per year for the final three years of its useful life. Calculate the cash payback period for the investment in this asset (round to nearest 0.0 years).

PLEASE SHOW ALL THE CALCULATIONS!