Landmark Prints Company is considering an investment in new equipment costing

$$500,000.$ The equipment will be depreciated on a straight$-$line basis for tax purposes over a five$-$year life and the income tax rate is $21\%.$ The investment has no terminal disposal value at the end of year $5.$ The investment is expected to generate pre$-$tax net cash inflows of $$120,000$ the first year, $$140,000$ the second year, and $$150,000$ every year thereafter until the fifth year. What is the payback period for this investment?