(Payback period calculations) You are considering three independent projects: project A, project B, and project C. Given the cash flow information in the following table, calculate the payback period for each project.

	Project A	Project B	Project C
Initial Outlay	-$1,100	-$9,500	-$5,500
Inflow year 1	$600	$5,000	$2,000
Inflow year 2	$200	$2,000	$2,000
Inflow year 3	$100	$2,000	$3,000
Inflow year 4	$300	$2,000	$3,000
Inflow year 5	$600	$2,000	$3,000

a. The payback period of Project A is: [ Select ] ["2.50", "3.25", "3.67"] years. (Round to two decimal places.)

b. The payback period of Project B is: [ Select ] ["2.50", "3.67", "3.25"] years. (Round to two decimal places.)

c. The payback period of Project C is: [ Select ] ["3.67", "3.25", "2.50"] years. (Round to two decimal places.)