A company is considering a new project that will cost $750,000. The project is expected to generate positive cash flows over the next four years in the amounts of $350,000 in year one, $325,000 in year two, $150,000 in year three, and $180,000 in year four. The required rate of return is 8%. What is the projects payback period?

		2.63 years
		2.50 years
		2.83 years
		2.33 years
		2.60 years