A company is considering the purchase of a new plece of equipment for $110,000. It is expected to produce the following net cash flows. The payback period IS: Net cash flows Year 1 $ 44,000 Year 2 $ 38,000 Year 3 $ 26,000 Year 4 $ 20,000 Year 5 $ 14,000 Multiple Choice 2.20 years. 4.10 years 3.10 years 2.89 years. 2.50 years