The management of Truelove Corporation is considering a project that would require an initial investment of $347,010 and would last for 7 years. The annual net operating income from the project would be $29,300, including depreciation of $45,530. At the end of the project, the scrap value of the project's assets would be $28,300. (Ignore income taxes.): Required: Determine the payback period of the project. (Round your answer to 2 decimal places.) Payback period years