MacHinery Manufacturing Company is considering a three-year project that has a cost of $75,000. The project will generate after-tax cash flows of $33,000 in Year 1, $27,000 in Year 2, and $30,000 in Year 3. Assume that the appropriate discount rate is 10% and that the firm's tax rate is 40%. What is the project's payback period?

Group of answer choices

None of them

2 years

3 years

2.78 years

2.50 years