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Parker, Inc purchased new equipment for $57,000. The new equipment would save on operating costs over the next 5 years as follows: $16,200 in year

Parker, Inc purchased new equipment for $57,000. The new equipment would save on operating costs over the next 5 years as follows: $16,200 in year 1; $12,500 in year 2; $14,800 in year 3; $24,200 in year 4; and $12,200 in year 5. The payback period for the new equipment is ______ years.Enter your answer rounded to 2 decimals

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