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 2.5 years, will this project be accepted? round to nearest. 2 years; yes it will be accepted 3 years; no it will not be accepted 5 years; yes it will be accepted 4 years; no it will not be accepted