The investment required for a project is estimated at OMR 40,000. The cash flows expected from the project are: Year 1 OMR 16,000, Year 2 OMR 18,000 and Year 3 OMR 20,000. In this case, the Payback period of the project is:

a.

1.43 years

b.

2.3 years

c.

2.89 years

d.

None of these