please calculate the project's payback period!!!

Fequired informetion PA11-2 (Algo) Making Autometion Dechion (LO 11-1, 11-2, 11-3, 11-5) multion, and the equipment has a useful ife of 5 years weth a residuel yalue of $1070000. The compary wit use strapht ine depreciation. Beacan could expect a poduction increase of 49.000 units per year and a reduktion of 20 percent in the labor cost ger unit PA1H.2 Part 3 Pequired: 3. Oeternine the projecty payback periost Note: Round your answer to 2 decimal places