Carr company is considering two capital investment proposals. Estimates regarding each project are provided below:

	Project soup	Project Nuts
Initial Investment	$400,000	$600,000
Annual net income	$30,000	$46,000
Net annual cash inflow	$110,000	$146,000
Estimated useful life	5 years	6 years
Salvage value	0	0

The company requires a 10% rate of return on all new investments

Present value of annuity of 1

Periods	9%	10%	11%	12%
5	3.890	3.791	3.696	3.605
6	4.486	4.355	4.231	4.111

The cash payback period for project soup is: A) 13.3 yrs B) 6.7 yrs C) 5 years D) 4.1 yrs (please show all steps because I want to learn the method) thx in advance