Waterway Inc. is considering purchasing a machine that costs $192000 and is estimated to have no salvage value at the end of its 4- year useful life. The straight-line method of depreciation is to be used. Projected annual cash inflows and outflows are as follows: Year 1 Expected Annual Cash Inflows Expected Annual Cash Outflows $80000 $22000 2 99000 33000 3 104000 36000 4 80000 24000 The cash payback period is O 2.25 years. O 2.59 years. O 3.20 years. 3.00 years.