Question 47 5 points Saved A company is considering a new inventory system that will cost $120,000. The system is expected to generale positive cash flows over the next four years in the amounts of $35.000 in year 1, $55.000 in year 2.565,000 in year 3, and $40,000 in year 4. The firm's required rate of return is 9%. What is the payback period of this project? 1.95 years 246 years 2.99 years 3 10 years Moving to another question will save this response Question 47 of 60 >>