Use the information to answer the following questions. A company is analyzing an independent project, S, whose cash flows are shown below:

cashflow

Year 0 -100

Year 1 60

Year 2 35

Year 3 30

Year 4 20

The company's cost of capital is 9%, and it can get an unlimited amount of capital at that cost. What is the payback period for Project S?

Select one:

a.2.17 years

b.2.33 years

c.3.20 years

d.2.67 years

e.2.99 years