Metlock Inc. is considering modernizing its production facility by investing in new equipment and selling the old equipment. The

following information has been collected on this investment:

Depreciation is $$10,090$ per year for the old equipment. The straight$-$line depreciation method would be used for the new equipment

over an eight$-$year period with salvage value of $$4,600.$

$($a$)$

F Your answer is incorrect.

Determine the cash payback period. $($Ignore income taxes.$)($Round answer to $3$ decimal places, e$.$g$.15\mathrm{.}275.)$