Robins Hardware is adding a new product line that will require an investment of

$1,512,000.

Managers estimate that this investment will have a10-year life and generate net cash inflows of

$310,000

the firstyear,

$280,000

the secondyear, and

$260,000

each year thereafter for eight years. Compute the payback period. Round to one decimal place.

The payback in years _______________________?