Consider this scenario: XYZ company recorded a total profit of $$200$ million in the previous financial year. As highlighted in its vision for the next ten years, the company's strategic direction is to enter new geographies as part of its expansion plan. As a result, the company is on the lookout for new locations to open new manufacturing plants. To achieve its goal of expansion, XYZ company has decided to take $$110$ million out of its total profit as the initial investment to set up the new plants.

You are part of the business development vertical and are responsible for leading the company's strategic initiatives. For your research, you have requested proposals from three potential sites that might be a good fit for the company. The following table highlights the cash flows$*$ that the financial chiefs of the three identified locations predict based on a ten$-$year timeline.

Year Site $1$ Site $2$ Site $3$

$1536$

$2648$

$3857$

$41299$

$5121212$

$6111314$

$7121414$

$8131513$

$9141614$

$10171715$

$11182015$

$12202317$

$13222619$

$14242921$

$15263223$

$*$All the values are in millions and depict each site's total cash flows.

Now, answer the following questions based on the aforementioned information.

What is the payback period for the initial investment in each site?

Site $1$: $12$ years, Site $2$: $10$ years, Site $3$: $9$ years

Site $1$: $10$ years, Site $2$: $10$ years, Site $3$: $10$ years

Site $1$: $10$ years, Site $2$: $11$ years, Site $3$: $10$ years

Site $1$: $11$ years, Site $2$: $10$ years, Site $3$: $11$ years