Krate Inc. is considering a $600,000 investment in new equipment that is anticipated to produce the following net cash inflows: Year 1 Net Cash Inflows $ 120,000 250,000 110,000 80,000 120,000 If cash flows occur evenly throughout a year, the equipment's payback period is: Select one: a. 4 years, 2 months. O b. 5 years. O c. 4 years, 4 months. d. 4 years, 3 months. o e. some other period of time not noted above