There is a project with the following cash flows :

Year	Cash Flow
0	$21,800
1	6,300
2	7,350
3	6,750
4	4,400

What is the payback period?

Multiple Choice

a. 4.00 years

b. 3.32 years

c. 3.74 years

d. 3.56 years

e. 2.79 years