Caliber Lawnmowers is considering the purchase of a new machine costing

$ 826 comma 000$826,000.

The company's management is estimating that the new machine will generate additional cash flows of

$ 188 comma 000$188,000

a year for ten years and have a residual value of

$ 56 comma 000$56,000

at the end of ten years. What is the machine's payback period? (Round your answer to two decimal places.)