McGilla Golf has decided to sell a new line of golf clubs. The length of this project is seven years. The company has spent $165,432 on research and development for the new clubs. The plant and equipment required will cost $2,845,173 and will be depreciated on a straight-line basis. The new clubs will also require an increase in net working capital of $132,574 that will be returned at the end of the project. The annual OCF of the project will be $802,956. The tax rate is 34 percent, and the cost of capital is 11 percent. What is the payback period for this project?

(Do not round intermediate calculations and round your final answer to 2 decimal places.)