Determine the payback period (in years, round-off to 5 decimal places) at an interest rate of 10% per year for an asset that initially cost $30,000, has a scrap value of $1,700 whenever it is sold,...

Extracted text: Determine the payback period (in years, round-off to 5 decimal places) at an interest rate of 10% per year for an asset that initially cost $30,000, has a scrap value of $1,700 whenever it is sold, and generates cash flow of S3,100 per year.