Project X has an initial cost of $76,434, and its expected net cash inflows are $19,750 per year for 6 years. The firm has a WACC of 11 percent, and Project Xs risk would be similar to that of the firms existing assets. What is Project Xs payback period?

	a.	3.87 years
	b.	3.51 years
	c.	3.39 years
	d.	3.00 years
	e.	4.00 years