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Nick's Novelties, Inc. is considering the purchase of electronic pinball machines to place in game arcades. The machines would cost a total of $560,000, have

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Nick's Novelties, Inc. is considering the purchase of electronic pinball machines to place in game arcades. The machines would cost a total of $560,000, have an eight-year useful life, and have a total salvage value of $30,000. The company estimated that annual revenues and expenses associated with the machines would be as follows: Click here to view Exhibit 10-1 and Exhlbit 10-2, to determine the appropriate discount foctor(s) using tables Required: 1-0. Compute the payback period. (Round your answer to 1 decimal place.)

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