Project NNN is a 9-year life project with an 8% annual traditional weighted average cost of capital. NNN's initial cash outflow (CFO) is $1,000,000, financed with $600,000 of debt and $400,000 of equity. Its traditional net cash inflows equal $200,000 per year (CF1 to CFg equal $200,000 per year), and its traditional net income after taxes equal $120,000 per year (NIAT1 to NIAT, equal $120,000 per year). Project NNNs (nondiscounted) Payback Period is: a. 5 years b. 3 years O c. 2 years O d. 8.33 years