Pls help me solve this without Excel. I got this incorrect.

A new IT server for a company will cost $445,481.00 today. The company expects the server will create an incremental cash flow to the firm of $105,043.00 per year. The company wants an 8% return for all capital budgeting projects. The company will run the server for the next 5 years.

What is the payback for this project?

Answer format: Number: Round to: 2 decimal places.