A Project Has an Initial Cost of $6,500

Multiple Choice

A project has an initial cost of $6,500.The cash inflows are $900,$2,200,$3,600,and $4,100 over the next four years,respectively.What is the payback period?

A) 1.73 years
B) 2.51 years
C) 2.94 years
D) 3.51 years
E) 3.94 years