Conway Candy Company is interested in buying a new storefront where they can sell their candy. The storefront will cost $325,000 to purchase and will take an additional $30,000 in renovations to make it meet local code. Conway Candy expects its annual cash flows from the store to be $45,000. What is the cash payback period of the new storefront? 

6.67 Years 

7.89 Years 

1.5 Years 

7.22 Years