Goodness Company is considering the purchase of a new machine. The invoice price of the machine is $70,020, freight charges are estimated to be $3,060, and installation costs are expected to be $5,580. The annual cost savings are expected to be $18,000 for 10 years. Calculate the cash payback period. (Round answer to 2 decimal places, e.g. 15.25.)

Cash payback period

enter the cash payback period in years rounded to 2 decimal places

years