Your firm has estimated the following cash flows for a capital investment project. The firm's required rate of return is 12%. Which of the following is closest to the payback period for the project? Cash Flow -$48,000 at time o 20,000 at year 1 20,000 at year 2 8,000 at year 3 5,000 at year 4 5,000 at year 5 5,000 at year 6 5,000 at year 7 3.53 years 3.00 years 2.50 years 4.50 years 4.00 years