irst Choice Carpets is considering purchasing new weaving equipment costing $706,000. The company's management has estimated that the equipment will generate cash inflows as follows Year 1 $214,000 2 214,000 3 268,000 4 5 268,000 170,000 Considering the residual value is zero, calculate the payback period. (Round your answer to two decimal places.) OA. 3.7 years OB. 3.04 years OC. 4.5 years COD. 3.75 years