A beverage company is investing in equipment at a cost of $39,000 for an entirely new production line to meet expected demand for a new product that has been proposed. They expect that this will increase annual sales by $79,000.

There are multiple annual variable costs that are also associated with the new line and equipment:

Cost of ingredients:                   $45,000

Salaries Expense:                     $13,200

Maintenance:                           $2,000

Annual Depreciation Expense:   $4,900

What is the payback time in years for the proposed investment? Round to two decimal places.