Required information. [The following information applies to the questions displayed below] Falcon Crest Aces (FCA), Inc., is considering the purchase of a small plane to use in its wing-walking demonstrations and aerial tour business. Various information about the proposed investment follows: Initial investment $220,000 Useful life $ 10 years Salvage value 25,000 Annual net income generated $ 5,000 FCA's cost of capital 7% Assume straight line depreciation method is used 2. Help FCA evaluate this project by calculating each of the following Payback period (Round your answer to 2 decimal places.) Payback Period years