The following details are provided by a manufacturing company: Product line Investment $1,130,000 Useful life 12 years Estimated annual net cash inflows for first year $400,000 Estimated annual net cash inflows for second year $420,000 Estimated annual net cash inflows for next ten years $400,000 Residual value $90,000 Depreciation method Straight-line Required rate of return 12% Calculate the payback period for the investment. (Round your answer to two decimal places.) O A. 2.94 years O B. 2.78 years OC. 2.65 years OD. 2.83 years