There is a project with the following cash flows:

Year Cash Flow

$0,$$$24,050$

$16,500$

$27,600$

$3,8,550$

$47,450$

$5,6,100$

What is the payback period?

$4\mathrm{.}00$ years

$3\mathrm{.}69$ years

$2\mathrm{.}84$ years

$3\mathrm{.}39$ years

$3\mathrm{.}19$ years