The Keego Company is planning a $200,000 equipment investment that has an estimated five-year life with no estimated salvage value. The projected the following annual cash flows for the investment. Year 2 3 Cash Inflows $120,000 60,000 40,000 40,000 40,000 $300,000 4 15 Total If the cash inflows occur evenly over each year, the payback period for the investment is