The Post Company considering investing in two alternative projects: Project 1 $700.000 Investment Useful life (years) Estimated annual net cash inflows for useful life Residual value Depreciation method Required rate of return $140.000 $35,000 Straight-line 11% Project 2 $210,000 8 $40.000 $18.000 Straight-line 8% What is the payback period for Project 1? OA. 5 years OB. 5.25 years O C. 7.37 years OD. 20 years