Brady Corp $\begin{array}{cr}\text { Year } & \text { Net Annual Cash Flow } \\2 & \$ 3,000 \\2 & 8,000 \\3 & 15,000 \\4 & 9,000\end{array}$

Brady Corp. is considering the purchase of a piece of equipment that costs $20,000. Projected net annual cash flows over the project's life are: $\begin{array}{cr}\text { Year } & \text { Net Annual Cash Flow } \\2 & \$ 3,000 \\2 & 8,000 \\3 & 15,000 \\4 & 9,000\end{array}$ The cash payback period is

A) 2.29 years.
B) 2.60 years.
C) 2.40 years.
D) 2.31 years.