A firm with an 8% WACC is evaluating two mutually exclusive projects with the following cash flows (in millions); calculate payback for the project that maximizes shareholder value.

t =	0	1	2	3	4	5
Project S	-40	18	18	18	10	10
Project T	-65	20	20	20	25	25

Group of answer choices

3.20 years

2.02 years

4.12 years

2.22 years

3.22 years