Parker, Inc purchased new equipment for $150,000. The project's estimated cash flows for the next six years is Year 1 $60,000 Year 4 $30,000 Year 2 $50,000 Year 5 $30,000 Year 3 $40,000 Year 6 $20,000 The payback period for the new equipment is O 1.4 years 2.6 years O 3.3 years O 4.5 years