Consider the following data on a proposed investment: o Investment required: P2,600,000 o Annual cash inflows: P500,000 o Life of the investment: 10 years o Salvage value: P250,000 o Discount rate: 10% Based on the above data, what 1 point is the payback period of the proposed investment project? * 2.50 years 3 years 4.5 years 5.20 years some other period (identify the payback period on your paper)