Current Attempt in Progress

Pharoah Company is considering purchasing new equipment for $$451,400.$ It is expected that the equipment will produce net annual cash flows of $$61,000$ over its $10-$year useful life. Annual depreciation will be $$45,140.$ Compute the cash payback period. $($Round answer to $1$ decimal place, e$.$g$.10\mathrm{.}5.)$

Cash payback period $$ years