What Is the Payback Period for a $16,700 Investment with the Following

Multiple Choice

What is the payback period for a $16,700 investment with the following cash flows? $$\begin{array} { | c | r | } \hline \text { Year } & \text { Cash Flow } \\\hline 1 & \$ 2,100 \\\hline 2 & 6,800 \\\hline 3 & 6,900 \\\hline 4 & 7,300 \\\hline 5 & 5,100 \\\hline\end{array}$$

A) 3.12 years
B) 3.89 years
C) 2.12 years
D) 3.44 years
E) 3.67 years