Haig Aircraft is considering a project that requires some initial investment today (t project will generate positive cash flows of S60,000 a year at the end of each of the next five years (from t-l to t-5)

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Haig Aircraft is considering a project that requires some initial investment today (t project will generate positive cash flows of S60,000 a year at the end of each of the next five years (from t-l to t-5). The project's NPV is $75,000 and the company's cost of capital is 10 percent. What is the project's regular payback?

a. 2 years

b. 3 years

c. Never

d. Cannot be solved because the initial investment is not given

e. None of the above