Cato Products is considering acquiring a manufacturing plant. The purchase price is $2,163,175. The owners believe the plant will generate net cash inflows of $309,025 annually. It will have to be replaced in nine years. To be profitable, the investment's payback period must occur before the investment's replacement date. Use the payback method to determine whether Cato Products should purchase this plant First enter the formula, then calculate the payback period. Determine whether Cato should purchase this plant The payback occurs Payback period years the plant must be replaced, so the payback method purchasing the plant.