A company is evaluating three possible investments. The following information is provided by the company Project A Project B Project C Investment $214,000 $50,000 $214,000 Residual value 0 10,000 26,000 Net cash inflows: Year 1 58,000 24,000 94,000 Year 2 58,000 15,000 64.000 Year 3 58,000 11,000 74,000 Year 4 58,000 8,000 34,000 Yoar 5 58,000 0 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) OA 3.60 years OB 500 years OC 200 years OD 2.08 years