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Robins Hardware is adding a new product line that will require an investment of $1,512,000. Managers estimate that this investment will have a 10-year life

Robins Hardware is adding a new product line that will require an investment of $1,512,000. Managers estimate that this investment will have a 10-year life and generate net cash inflows of $300,000 the first year, $280,000 the second year, and $230,000 each year there after for eight years. Compute the paycheck period. Round to one decimal place.

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