Company Crosby Ltd is an entertainment provider. The company is considering the development of a software search engine for its products:

Web-Bing, which would require an outlay of $1.85 million. If the investment will result in additional cash flows of $500,000, $800,000, and $1,100,000 in revenues over the next 3 years, what is the payback period for this project? (Meaning, how long before the company regains its investment costs?)

a. 3 years

b. 2.5 years

c. 2 years

d. More than 3 years