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The following details are provided by a manufacturing company: Product line Investment $1,170,000 Useful life 14 years Estimated annual net cash inflows for first year $430,000 Estimated annual net cash inflows for second year $380,000 Estimated annual net cash inflows for next ten years $430,000 Residual value $70,000 Depreciation method Straight - line Required rate of return 15% Calculate the payback period for the investment. (Round your answer to two decimal places.) O A. 2.84 years B. 2.25 years C. 2.44 years D. 2.72 years
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