A project is projected to cost $165,000 to undertake. It will generate positive cash inflows as follows: Year 1 - $100,000; Year 2 90,000; Year 3 - $89,000; Year 4 20,000. What is the projects payback?

Select one:

a.

3.84 years

b.

1.72 years

c.

4.5 years

d.

5.0 years