A company is evaluating three possible investments. The following information is provided by the company Project A Project B Project C Investment $228,000 $50,000 $228,000 Residual value 0 12,000 36,000 Net cash inflows Year 1 56,000 26,000 96,000 Year 2 56,000 17,000 66,000 Year 3 Year 4 56,000 13,000 76,000 Year 5 56,000 56,000 10,000 0 36,000 0 What is the payback period for Project A? (Assume that the company uses the straight-line depreciation method.) (Round your answer to two decimal places.) A. 1.92 years B. 4.07 years OC. 3.07 years OD. 5.00 years 4