What is the payback period of a project that requires a net investment of $100,000 and is expected to generate 16 years of net cash flows of $10,000 a year, if the firm's cost of capital is 8 percent?

a. There's a negative $11,490 NPV so there is no payback period. b. 1.6 times c. 10 years d. 12.5 years