A company is considering investing in loading equipment. The project would require an investment of $95693 and would have a useful life of 4 years. The cash flows associated with the project are the following:

	Year	Cash Flow
	1	$45567
	2	21003
	3	51929
	4	11904

What would the payback period of the project be?

Select one:

a. 2.10 years

b. 2.56 years

c. 3.00 years

d. 3.56 years