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

Year0 Year1 Year2 Year3 Year4

CashFlow -100 60 35 30 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.2.99 years

b.2.17 years

c.2.33 years

d.3.20 years

e.2.67 years