Consider a project with the cash flows as listed in the table below. What is the projects payback period?

PROJECT

Year Cash Flow

0 -8500

1 1400

2 1300

3 1200

4 1300

5 1500

6 1800

7 2200

8 2700

Select one:

a) 1 year

b)6 years

c)4 years

d)8 years

e)5 years

f)3 years

g)2 years

h)7 years