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  3. the total cost of a new robot system is $525,000.

The total cost of a new robot system is $525,000. The salary and fringe...

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Accounting

The total cost of a new robot system is $525,000. The salary and fringe benefits of replaced workers is $83,200. The annual savings from using the robot is $25,000. Depreciation is 20% of the new robot system cost. Maintenance costs are $8,000 annually. The new staffing costs equal $60,000 per year. Robot Life Expectancy = 8 years. Determine the Payback Period in years. Round your answer to two decimal places.

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