30) Kansas Mining is evaluating a proposal to invest in a new piece of equipment costing (3pts) $55,000 with the following annual cash flows over the equipment's 4-year useful life: $95,000 (52,000) Cash revenues Cash expenses Depreciation expenses (straight- line) Income provided from equipment Cost of capital (13,750) $29,250 14 percent The investment's payback period is (rounded to two decimal places): 02.56 O 3.91 O 1.88 0 2.37