You are considering making a movie. The movie is expected to cost $$$$10\mathrm{.}5$ million up front and take a year to produce. After$$ that, it is expected to make $$$$4\mathrm{.}4$ million in the year it is released and $$$$1\mathrm{.}7$ million for the following four years. What is the payback period of this$$ investment? If you require a payback period of two$$ years, will you make the$$ movie? Does the movie have positive NPV if the cost of capital is $10\mathrm{.}7\%?$

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Part $1$

What is the payback period of this$$ investment?$$

The payback period is

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enter your response here years.$($Round to two decimal$$ places.$)$