How long will it take in years to the nearest two decimal


5. A new product will cost $750,000 to design, test prototypes, and set up for production. The net revenue in the first year is projected to be $225,000. Marketing expects that the net revenue will increase by $25,000 per year as the product's advantages become more widely known. The firm manufacturing the product requires a rate of return equal to 12% per year. How long will it take in years (to the nearest two decimal places) for the firm to break-even on their investment?

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Financial Management: How long will it take in years to the nearest two decimal
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