The following details are provided by a manufacturing company: Product line Investment Useful life Estimated annual net cash inflows for first year Estimated annual net cash inflows for second year Estimated annual net cash inflows for next ten years Readual value Depreciation method Required rate of return $1,190,000 12 years $400,000 $390,000 $490,000 $90,000 Straight-line 12% Calculate the payback period for the investment. (Round your answer to two decimal places.)