Calculate the payback period for a project that has the following cash flows? The required return is $12\mathrm{.}0\%.$

Year Cash Flow

$0$ $ $(21,000)$

$1$ $ $6,000$

$2$ $ $6,000$

$3$ $ $6,000$

$4$ $ $6,000$

$5$ $ $6,000$

$6$ $ $6,000$

$7$ $ $6,000$

Group of answer choices

$3\mathrm{.}33$ years

$3\mathrm{.}67$ years

$3\mathrm{.}17$ years

None of these are correct.

$3\mathrm{.}50$ years