Binder Corp. has invested in new machinery at a cost of $1,450,000. This investment is expected to produce cash flows of $640,000, $920,455, $823,330, and $907,125 over the next four years. What is the payback period for this project?

Group of answer choices

A. 2.12 years

B. 1.88 years

C. 4.00 years

D. 3.52 years

E. 3.00 years