X Company must purchase a new delivery truck and is using the payback method to

evaluate two possible trucks. Truck 1 costs $31,000; Truck 2 costs $47,000. The useful life

of both is seven years, with the following estimated operating cash flows:

Year Truck

1

Truck

2

1 $-7,000 $-8,000

2 -6,000 -4,000

3 -8,000 -4,000

4 -8,000 -4,000

5 -2,000 -1,000

6 -6,000 -4,000

7 -3,000 -1,000

If X Company chooses Truck 2 instead of Truck 1, what is the payback period (in years)?