Resnick Inc. is considering a project that has the following cash flow data. What is the project's payback?

Year $0123$

Cash flows $-$$$300$ $$240$ $$240$ $$240$

a$.1\mathrm{.}75$ years

b$.1\mathrm{.}13$ years

c$.1\mathrm{.}25$ years

d$.2\mathrm{.}13$ years

e$.2\mathrm{.}40$ years