Company wishes to buy new equipment for $9,000. The equipment is expected to generate an additional $2,800 in cash inflows for six years. All cash flows occur at year-end. Dodd-Franks Bank will make a $9,000 loan to the company at a 10% interest rate so that the company can purchase the ethically-sourced equipment. Required: Determine break-even time in years (rounding to two decimals) for this equipment.

year 1 0.9091

year 2 0.8264

year 3 0.7513

year 4 0.6830

year 5 0.6209

year 6 0.5645

year 7 0.5132

year 8 0.4665

Please explain this problem in detail. I am having serious problems understanding how do do this. Thanks.