You are considering a project with an initial cost of $4,400. What is the payback period for this project if the cash inflows are $550, $970, $2,800, and $500 a year over the next four years, respectively?

A. 2.04 years

B. 2.36 years

C. 3.16 years

D. 3.36 years

E.2.89 years