Calculate the payback period of the following project: The required initial investment is $333,010 and its expected life is 7 years. Expected annual net operating income from the project is $28,600, including depreciation of $43,630. At the end of the project, the salvage value of the assets is expected to be $27,600. (Ignore income taxes.):

Required:

The payback period is: (Round your answer to 2 decimal places.) years