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 $204,000 2 $204,000 3 $266,000 4 $266,000 5 $150,000 Considering the residual value is zero, calculate the payback period. (Round your answer to two decimal places.) A. 3.42 years B. 4.61 years c. 3.21 years D. 3.70 years