Kathleen Dancewear Co$.$ has bought some new machinery at a cost of $$3,250,000.$ The impact of the new machinery will be felt in the additional annual cash flows of $$1,100,000$ over the next six years. What is the payback period for this project? If its acceptance period is $2\mathrm{.}5$ years, will this project be accepted? round to nearest.

$2\mathrm{.}2$ years; no$,$ it will not be accepted.

$2\mathrm{.}95$ years; yes it will be accepted

None of these

$2\mathrm{.}2$ years; yes it will be accepted

$2\mathrm{.}95$ years; no it will not be accepted