Calculate the payback period for a dry$-$bean harvester that requires an average initial cash outlay of $$500,000.$ The after$-$tax net cash

flows from this harvester will be $$100,000$ during the first year; $$75,000$ for each of the $2$ nd$,3$ rd$,$ and $4$ th$,$ years; and $$60,000$ for the $5$ th$,$

$6$ th$,7$ th and $8$ th years.

a$.8$ years

b$.5$ years

c$.7$ years

d$.6$ years

e$.4$ years