Oriental Corporation has gathered the following data on a proposed investment project:     Investment in depreciable equipment $ 560,000   Annual net cash flows  $ 82,000   Life of the equipment   16 years Salvage value $ 0   Discount rate   9 %     The company uses straight-line depreciation on all equipment. Assume cash flows occur uniformly throughout a year except for the initial investment.   The payback period for the investment would be:

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