Payback period$$ The Ball Shoe Company is considering an investment project that requires an initial investment of $ $543$ comma $000$

and returns cash inflows of $$$$96$ comma $130$

per year for $10$ years. The firm has a maximum acceptable payback period of $8$ years.

a$.$Determine the payback period for this project.

b$.$Should the company accept the$$ project?

Question content area bottom

Part $1$

a$.$The payback period for this project is enter your response here

years.$($Round to two decimal$$ places.$)$