Calcluate the simple payback period for the following series of payments. Starting with an initial outflow of $70,000 follow by inflows of $23,000 in the first year and $25,300 in the second year $27,830$30,613 and $33,674 in each of the following years. A) 2.78 B) 1.6 C) 1.42 D) 2.24 E) 1.25