Ignore income taxes in this problem.) Shields Company has gathered the following data on a proposed investment project: Investment required in equipment $490,000 Annual cash inflows $90,000 Salvage value $0 Life of the investment 10 years Discount rate 7% The payback period for the investment is closest to: (Round your answer to 1 decimal place.) 5.4 years 3.4 years 0.2 years 1.0 years