First Choice Carpets is considering purchasing new weaving equipment costing $730,000. The company's management has estimated that the equipment will generate cash inflows as follows: Year 1 2 $204,000 $204,000 $266,000 $266,000 $150,000 4 5 Considering the residual value is zero, calculate the payback period. (Round your answer to two decimal places.) O A. 4.61 years OB. 3.70 years O C. 3.42 years OD. 3.21 years