Rent-to Own Equipment Co. is considering a new inventory system that will cost $750,000. The system is expected to generate positive cash flows over the next four years in the amounts of $350,000 in year one, $325,000 in year two, $150,000 in year three, and $180,000 in year four. Rent-to-own required rate of return is 8%. What is the payback period of this project?

A) 2.50 years

B) 3.09 years

C) 2.91 years

D) 4.00 years