Lewis Manufacturing Company Is Planning to Invest in Equipment Costing

Lewis Manufacturing Company is planning to invest in equipment costing £240,000. The estimated cash flows from this equipment are expected to be as follows: Assume that the cash inflows occur evenly over the year. The payback period for this investment is

A) 3.75 years.
B) 3.25 years.
C) 2.4 years.
D) 1.3 years.