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12 years The following details are provided by a manufacturing company: Product line Investment $1,000,000 Useful life Estimated annual net cash inflows for first year $400,000 Estimated annual net cash inflows for second year $390,000 Estimated annual net cash inflows for next ten years $300,000 Residual value $90,000 Depreciation method Straight-line Required rate of return 12% Calculate the payback period for the investment. (Round your answer to two decimal places.) A. 4.19 years B. 2.70 years C. 2.50 years D. 3.76 years