Vandezande Incorporated is considering the acquisition of a new machine that costs $467,000 and has a useful life of 5 years with no salvage value. The incremental net operating income and incremental net cash flows that would be produced by the machine are (Ignore income taxes.):

Incremental Net Operating IncomeIncremental Net Cash FlowsYear 1$ 75,000$ 152,000Year 2$ 81,000$ 160,000Year 3$ 92,000$ 175,000Year 4$ 55,000$ 157,000Year 5$ 97,000$ 159,000

Assume cash flows occur uniformly throughout a year except for the initial investment.

The payback period of this investment is closest to:(Round your answer to 1 decimal place.)