Christopher Electronics bought new machinery for $5,045,000 million. This is expected to result in additional cash flows of $1,205,000 million over the next 7 years. What is the payback period for this project? Their acceptance period is five years. Round to two decimal places.

Cornerstones of Cost Management (Cornerstones Series)
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Author:Don R. Hansen, Maryanne M. Mowen
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Chapter19: Capital Investment
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Christopher Electronics bought new machinery for $5,045,000 million. This is expected to result in additional cash flows of $1,205,000 million over the next 7 years. What is the payback period for this project? Their acceptance period is five years.

Round to two decimal places.

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