A company is reviewing a capital investment of $$50,000.$ This project's projected cash flows over a five$-$year period are estimated at $$16,000$ each year. Assuming a $12\%$ hurdle rate, calculate the payback period and the breakeven time $($BET$).$ The payback period $($PP$)$ and the breakeven time $($BET$)$ are:

$PP$ is $2\mathrm{.}5$ years; BET$3\mathrm{.}15$ years.

PP is $3\mathrm{.}1$ years; BET $4\mathrm{.}0$ years.

PP is$4\mathrm{.}14$ years; BET $3\mathrm{.}50$ years.

PP is $3\mathrm{.}13$ years; BET $4\mathrm{.}14$ years.

PP is $3\mathrm{.}13$ years; BET $2\mathrm{.}5$ years.

PP is $2\mathrm{.}0$ years; BET $3\mathrm{.}0$ years.