Mansi IncIs Considering a Project That Has the Following Cash Flow

Multiple Choice

Mansi Inc.is considering a project that has the following cash flow data.What is the project's payback? $$\begin{array} { l c c c c } \text { Year } & 0 & 1 & 2 & 3 \\\hline \text { Cash flows } & - \$ 500 & \$ 300 & \$ 325 & \$ 350\end{array}$$

A) 1.28 years
B) 1.58 years
C) 1.83 years
D) 1.62 years
E) 1.49 years