West Ridge Farms Ltd. (WRF) breeds and raises horses, and is currently considering purchasing a new property that will cost $2,200,000. The property includes a barn and several horses. Due to the unique nature of the business, the cash flows associated with the property occur at the end of every 6-month interval. WRF estimates that the cash inflows will exceed the cash outflows by $82,000 each 6-month period. The property will be sold in 30 years for $1,690,000. What is the payback period of the new property?

Select answer from the options below

6.2 years

26.8 years

13.4 years

10.3 years