A project's cashflows are as follows: there is an initial cost of 500$ and the project will generate 200$ per year for 3 years. What's the payback period for this project?

Year

Cash flow

0

- 500$

1

200$

2

200$

3

200$

A.1 year

B.2 years

C.2.5 years

D.3 years

E.None of the above