Required information [The following information applies to the questions displayed below.] The management of Niagra National Bank is considering an investment in automatic teller machines. The machines would cost $135,700 and have a useful life of seven years. The bank's controller has estimated that the automatic teller machines will save the bank $29,500 after taxes during each year of their life (including the depreciation tax shield). The machines will have no salvage value. Use Appendix A for your reference. (Use appropriate factor(s) from the tables provided.) Required: 1. Compute the payback period for the proposed investment. (Round your answer to 1 decimal place.) Payback period years