1. An investment cost $100,000 initially today. In the first year it returned cash flows of $45,000, in the second year it returned cash flows of $20,000, in the third year $15,000, in the fourth year 15,000 and in the fifth and sixth year $20,000 per year. What is the cash payback period? a. C. e. 4.75 years. 5 years. 5.25 years. 5.75 years. 6 years