Compute the payback period for a project with the following cash flows, assuming that the companys discount rate is 12 percent.

Initial Outlay = $450

Cash Flows: Year 1 = $325

Year 2 = $65

Year 3 = $100

a) 4 years \

b) 3.13 years

c) 2.17 years

d) 2.6 years

Solve the MCQ and give me the correct answer by selecting OPTION A B C D