Harvard Manufacturing Company is considering the following investment proposal:Initial investment: Depreciable assets $($straight$-$line$)$ $$48,000$Working capital $4,000$Operations $($per year for $4$ years$)$: Cash receipts $$30,000$Cash expenditures $17,000$Disinvestment: Salvage value of equipment $$2,000$Recovery of working capital $4,000$The investment$$s payback period in years $($rounded to two decimal points$)$ is:Select one:a$.4\mathrm{.}67$b$.2\mathrm{.}82$c$.4\mathrm{.}00$d$.3\mathrm{.}69$