Compute the payback period for an investment with the following net cash flows. (Round your answer to one decimal place.) Year Initial investment 1. 2. 3. 4. 5. 6. Payback period Net Cash Flows Cumulative Net Cash Flows per Year $ (120,000) 12,000 22,000 22,000 47,200 42,000 42,000 years $ (120,000) (108,000) (86,000) (64,000) (16,800) 25,200 67,200

Compute the payback period for an investment with the following net cash flows. (Round your answer to one decimal place.)