Cyrus Inc. was considering an investment in the following project:

Required initial investment$1,070,000Net annual after-tax cash inflow$160,000Annual depreciation expense (($1,070,000 $165,000)/20 years)$45,250Estimated salvage value$165,000Life of the project in years20

Assume that cash inflows occur evenly throughout the year. The estimated payback period in years (rounded to one decimal place) for the proposed project is: