Your firm is considering a capital budgeting project. The required initial outlay is $100,000. The project is expected to have a useful life of four years. The projected cash flows are as follows: Year 1 - $25,000 Year 2 - $30,000 Year 3 - $35,000 Year 4 - $40,000 Calculate the Payback Period for this project. 4.00 Years 3.00 Years 3.25 Years 2.50 Years