The Zingstad Corporation is considering an investment with the following data (Ignore income taxes.):

	Year 1	Year 2	Year 3	Year 4	Year 5
Investment	$ 32,000	$ 12,000
Cash inflow	$ 0	$ 8,000	$ 20,000	$ 16,000	$ 16,000

Cash inflows occur evenly throughout the year. The payback period for this investment is:

Group of answer choices

4.5 years

3.0 years

4.0 years

3.5 years