Sheffield Corp. is considering the purchase of a piece of equipment that costs $20,000. Projected net annual cash flows over the project's life are: Year Net Annual Cash Flow 1 $3000 2 7700 3 13800 4 9100 The cash payback period is O 2.59 years. O 2.26 years. 2.41 years. O 2.24 years. Save for Later Attempts: 0 of 1 used Submit Answer