Bean Ltd is considering undertaking a project, which will involve an initial outlay of $300,000. The project has the following cash flows associated with it:

	$'000
Year 1 cash inflows	100
Year 2 cash inflows	150
Year 3 cash inflows	200

If a discount rate of 10% is used to calculate the NPV of the project, which of the following statements is correct? (Assume the cash flows arise at the end of each year.)

		The project will yield a positive NPV of $65.14k and have a payback period of 2 years and 9 months.
		The project will yield a positive NPV of $65.14k and have a payback period of 2 years and 3 months.
		The project will yield a positive NPV of $365.14k and have a payback period of 2 years and 9 months.
		The project will yield a positive NPV of $365.14k and have a payback period of 2 years and 3 months.