Conners Inc. invests in a new factory that will generate the following income from the products it will generate: $400,000 Product Revenues Less Operating Expenses: Salaries Maintenance Depreciation Insurance Net Operating Income Less Taxes Net Income 128,000 48,000 62,500 40,000 278,500 121,500 36,450 85,050 The new factory investment assumptions are as follows: Equp Purchase Price $430,080 Salvage Value 0 Life (years) 10 Tax rate 30% Required Rate of Return 15% What is the investment's payback (round to two decimal places)