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Nakamichi Bancorp has made an investment in banking software at a cost of $1,786,200. Management expects productivity gains and cost savings over the next several
Nakamichi Bancorp has made an investment in banking software at a cost of $1,786,200. Management expects productivity gains and cost savings over the next several years. If, as a result of this investment, the firm is expected to generate additional cash flows of $596,900, $697,600, $439,600, and $392,760 over the next four years, what is the investments payback period? (Round answer to 2 decimal places, e.g. 15.25.)
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