ABC Corp is also considering a different investment - in this case, they would renovate their existing facilities and equipment to enable better workflow which they believe would make production of their products both more efficient and more effective. In this case, the cost of the improvements is $1.5 million and the estimated useful life of the improvements is ten years. The estimated cash flow is projected as follows:

Year	Cash Flow (dollars)
1	$0
2	$50,000
3	$150,000
4	$250,000
5	$350,000
6	$350,000
7	$350,000
8	$350,000
9	$300,000
10	$300,000

What is the payback period on this investment?

Seven Years

Eight Years

Nine Years

Ten Years