Fielding Hartivare is adding a new product line that will regulre an imvestment of $1,460,000. Managers estimate that this investrment wil huve a 10 -year ife and generate net cash intows of $305,000 the frot yeac, 5295,000 the second year, and $240,000 each year thereatter for eight years. The imvesiment has no residual value. Compule the paybeck period. Fint enter the formula, then calculate the payback period. (Round your answer to two decimal places.)