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Wildhorse Specialties just purchased inventory-management computer software at a cost of $1,482,950. Cost savings from the investment over the next six years will produce the
Wildhorse Specialties just purchased inventory-management computer software at a cost of $1,482,950. Cost savings from the investment over the next six years will produce the following cash flow stream: $194,340, $278,240, $362,600, $597,250, $707,320, and $581,740. What is the payback period on this investment? (Round answer to 2 decimal places, e.g. 15.25.)
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