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Comfy Home is considering investing in a new inventory management system. The system would cost $40,000 upfront. It will generate net cash flows of $3,300

Comfy Home is considering investing in a new inventory management system. The system would cost $40,000 upfront. It will generate net cash flows of $3,300 per year for 15 years. Comfy Homes discount rate is 9%.

What is the payback period of this investment?

Round to the nearest two decimals.

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