For the following project, calculate the payback period. 2.9 years 3.1 years 3.2 years 3.4 years none of these

QUESTION 21 For the following project, calculate the payback period. ICO $48,000 MCC: 6.3% year ANOCFt 1 2 3 4 $14,500 Sl 5,900 $15,200 $13,800 C) 2.9 years C) 3.1 years C) 3.2 years C) 3.4 years C) none of these