Exercise 15-22 Payback period Houston Fashions is considering a new product line that would require an investment of $140,000 in fixtures and displays and $180,000 in working capital. Store managers expect the following pattern of net cash inflows from the new product line over the life of the investment. Year Amount 1 70,000 2 78,000 3 72,000 4 56,000 5 50,000 6 48,000 7 44,000 a. Compute the payback period for the proposed new product line. Houston Fashions requires a four-year pre-tax payback period on its investments. Round your answer to one decimal places.