Post - Lecture Question 5 The East on manufacturing Company is looking to replace its conveyor belt system . A new system will cas $ 345 , 000 , and will result in cost savings of $220 000 in the first year , followed by savings of $100 ,000 pe year over the following 3 years . If the firm's cost of capital is 9% , what is the discounted payback period fo his project ? ( Do not round intermediate computations , Round final answer to two decimal places . ) 2.58 years 275 years . 2. 25 years . 2. 40 years