Assume a capital budget project has the following information:

Initial Cost of Project	$13,000
Expected annual net cash flow	$4,000
Project length	6 years

What is the project's payback period in years?

	a.	Too little information was provided to determine the project's payback period.
	b.	3.25 years
	c.	1.50 years
	d.	3.00 years