Ollivander Wands purchased new equipment costing $250,000. Ollivander expects the new equipment to generate cash savings as follows: Year Cash Savings 1 $40,000 2 $50,000 3 $85,000 4 $75,000 5 $75,000 6 $40,000 What is the payback period? O 4 years 1 year O3 years O2 years