9. James Construction Co. is considering a new inventory system that will cost $950,000. The system is expected to generate positive cash flows over the next four years in the amounts of $350,000 in year one, $350,000 in year two, $150,000 in year three, and $180,000 in year four. The required rate of return is 8%. What is the payback period of this project? A) 4.00 years Page 3 of 5 B) 3.56 years C) 2.91 years D) 2.50 years