Stewart Associates Is Considering a Project That Has the Following

Multiple Choice

Stewart Associates is considering a project that has the following cash flow data.What is the project's payback? $\begin{array}{lcccc}\text { Year: } & 0 & 1 & 2 & 3&4 &5\\\hline \text { Cash flows: } &-\$ 1,000 & \$ 300 & \$ 310 & \$ 320 & \$ 330 & \$ 340\end{array}$

A) 2.34 years
B) 2.60 years
C) 2.89 years
D) 3.21 years