Brandon Company is contemplating the purchase of a new piece of equipment for $36,000. Brandon is in the 20% income tax bracket Predicted annual after-tax cash inflows from this investment are $23,000, $11,000, $1,000, $8,000 and $6,000 for years 1 through 5, respectively. The firm uses straight-line depreciation with no residual value at the end of five years. The payback period in years (rounded to the nearest 10th of a year) for this proposed investment is (assume that the after-tax cash inflows occur evenly throughout the year): Multiple Choice 2.5 years. 3.0 years. 3.5 years. 4.3 years. 4.5 years