Fielding Haroware is adding a new product line that wil require an investment of $1,540,000. Managers estimate that this inventment will have a 10 -year Ife and generafe net cash inflows of $300,000 the first yea, $280,000 the second year, and $260,000 each year thereafer for eight years. The investmeet has no tesidual valua. Compute the poybeck period. Fint enter the formula, then cakulale the payback period. (Round your answer to two decimal places)