Brady Corp. is considering the purchase of a piece of equipment that costs $20,000. Projected net annual cash flows over the project's life are: i1. Year Net Annual Cash Flow $ 3,000 8,000 15,000 9,000 The cash payback period is A) 2.29 years. B) 2.60 years. C) 2.40 years. D) 2.31 years