Cole Co. is considering acquiring a manufacturing plant. The purchase price is $1,100,000. The owners believe the plant will generate net cash inflows of $297,000 annually. It will have to be replaced in six years. Use the payback method to determine whether Cole should purchase this plant. Round to one decimal place Select the formule, then enter the amounts to calculate the payback period for the plant (round payback to one decimat place, XX) Payback years