Blossom Company is considering purchasing new equipment for $$470,400.$ It is expected that the equipment will produce net annual cash flows of $$56,000$ over its $10-$year useful life. Annual depreciation will be $$47,040.$ Compute the cash payback period. $($Round answer to $1$ decimal place, e$.$g$.10\mathrm{.}5.)$

Cash payback period

years

eTextbook and Media

Last saved $1$ second ago.

Saved work will be auto$-$submitted on the due date. Auto$-$submission can take up to $10$ minutes.