What Is the Payback Period for a Project with the Following

Multiple Choice

What is the payback period for a project with the following cash flows? $$\begin{array} { | c | r | } \hline \text { Year } & \text { Cash Flow } \\\hline 0 & - \$ 75,000 \\\hline 1 & 15,000 \\\hline 2 & 23,000 \\\hline 3 & 35,000 \\\hline 4 & 25,000 \\\hline\end{array}$$

A) 2.56 years
B) 2.89 years
C) 3.08 years
D) 3.24 years
E) Never