XYZ 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:

year 1 cash flow	100000
year 2 cash flow	150000
year 3 cash flow	200000

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.)

a)The project will yield a positive NPV of $65,500 and have a payback period of 2 years and 3 months.

b)The project will yield a positive NPV of $64,500 and have a payback period of 2 years and 9 months.

c)The project will yield a positive NPV of $365,500 and have a payback period of 2 years and 3 months

d)The project will yield a positive NPV of $365,500 and have a payback period of 2 years and 9 months.