A firm with 9.5 percent cost of capital is considering a project for this year's capital budget. The project's expected after- tax cash flows are as follows:

Year: 0 1 2 3 4

Cash flow: -$11,000 $3,500 $4,800 $4,200 $5,000

calculate the project's payback period:

A. 2.64 years

B. 2.00 years

C. 3.00 years

D. 2.50 years

E. 2.36 years