First Choice Carpets is considering purchasing new weaving equipment costing $738,000. The company's management has estimated that the equipment will generate cash inflows as follows: Year 1 $232,000 2 232,000 3 258,000 4 258,000 5 162,000 Considering the residual value is zero, calculate the payback period. (Round your answer to two decimal places.) A. 4.22 years B. 3.82 years C. 3.06 years D. 3.89 years