An anticipated purchase of equipment for $1,000,000, with a useful life of eight years and no residual value, is expected to yield the following annual net incomes and net cash flows: Year 1 Net Income $210,000 Net Cash Flow $400,000 12345678 180,000 320,000 145,000 280,000 125,000 270,000 60,000 220,000 60,000 220,000 60,000 220,000 60,000 220,000 What is the cash payback period? a. 5 years b. 4 years C. years d. 3 years