(Ignore income taxes in this problem.) The Keego Company is planning a $200,000 equipment investment which has an estimated five-year life with no estimated salvage value. The company has projected the following annual cash flows for the investment. year cash flows 1 $120,000 2 $60,000 3 $40,000 4 $40,000 5 $40,000 total $300,000 Assuming that the cash inflows occur evenly over the year, the payback period for the investment is: a. 0.75 years b. 1.67 years c. 4.91 years d. 2.50 years