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

Year	0	1	2	3	4	5
Cash flows	-$975	$300	$310	$320	$330	$340

a. 3.86 years

b. 2.86 years

c. 1.29 years

d. 4.14 years

e. 3.14 years