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DYI Construction Co . is considering a new inventory system that will cost $ 7 5 0 , 0 0 0 . The system is

DYI Construction Co. is considering a new inventory system that will cost $750,000. The system is expected to generate positive cash flows over the next four years in the amounts of $350,000 in year one, $325,000 in year two, $150,000 in year three, and $180,000 in year four. DYI's required rate of return is 8%. What is the payback period of this project
Select one:
a.4.00 years
b.2.91 years
c.3.09 years
d.2.50 years

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