Jack bought a rice milling equipment amounting to 3,145,000.00, and is expected to generate 546,500.00 of annual cash revenues and 96,500.00 of annual cash expenses. At the end of 10-year life of the...

Jack bought a rice milling equipment amounting to 3,145,000.00, and is expected to generate 546,500.00 of annual cash revenues and 96,500.00 of annual cash expenses. At the end of 10-year life of the equipment, the disposal value is 47,000. Ignoring income taxes, what is the payback period?