FastTrack Bikes, Inc. is thinking of producing a new composite road bike. The company has to make an investment in new production facilities of $550,000. The cost of capital for FastTrack Bikes is 12%. The expected free cash flow over the next 6 years is estimated to be:

Year 1: $55,000 Year 2: $155,000 Year 3: $350,000; Year 4: $300,000; Year 5: $120,000; Year 6: $40,000

COMPUTE THE PAYBACK in years for this investment.