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Sikes Hardware is adding a new product line that will require an investment of $1,454,000. Managers...

Sikes Hardware is adding a new product line that will require an investment of $1,454,000. Managers estimate that this investment will have a​ 10-year life and generate net cash inflows of $300,000 the first​ year, $270,000 the second​ year, and $230,000 each year thereafter for eight years. Compute the payback period. Round to one decimal place.

The Payback is ___ years

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