McKnight Co. is considering acquiring a manufacturing plant. The purchase price is $1,350,000. The owners believe the plant will generate net cash inflows of $307,000 annually. It will have to be replaced in six years. Use the payback method to determine whether McKnight should purchase this plant. Round to one decimal place. Select the formula, then enter the amounts to calculate the payback period for the plant. (Round payback to one decimal place, X.X.) = Payback 1 = years The payback occurs the plant must be replaced, so the payback method purchasing the plant