What is the payback period for a project with the following costs: Initial investment: $46,700 Year 1 cash inflow: $10,000 Year 2 cash inflow: $10,000 Year 3 cash inflow: $12,000 Year 4 cash inflow: $12,000 Year 5 cash inflow: $12,000

3.23 years

3.41 years

3.79 years

4.23 years