A new machine will cost $750,000. The cash flows generated from this new machine are as follows: $350,000 in year one, $325,000 in year two, $150,000 in year three, and $180,000 in year four. Required...

A new machine will cost $750,000. The cash flows generated from this new machine are as follows: $350,000 in year one, $325,000 in year two, $150,000 in year three, and $180,000 in year four. Required rate of return is 8% (this is the rate). The payback period = ?

1. A) 4.04 years B) 3.02 years C) 2.93 years     D) 2.50 years