Pharoah Solutions, Inc., has just invested $5,443,400 in new equipment. The firm uses a payback period criteria of rejecting any project that takes more than four vears to recover its costs. Management anticipates cash flows of $553,000, $621,200, $1,071,800, $1,238,300, $2,101,200, and $1,968,000 over the next six years.

Payback period is ____ ?