Bad Company, Incorporated, has a major

outlay of $1.5 million that is needed to

renovate the company's manufacturing

facility. Because the company's management

is conservative, it won't undertake the

renovation until it has the cash necessary to

fund the renovation. The company plans to

deposit $122,000 each quarter into an

account that will earn 2 percent per quarter.

How many years will it be until the company

has the money saved for the renovation?