VCV Limited Is Investing £500,000 into a New Project

VCV Limited is investing £500,000 into a new project. The project will last for five years. At the end of the five years, the project assets will be sold for £200,000. Depreciation on project assets is provided on the straight line basis over five years. The net cash inflows from the project in years 1 to 5 are expected to be £50,000, £100,000, £150,000, £200,000 and £250,000. What is the payback period for this project?

A) This project does not have a payback period.
B) 2 years 4 months
C) 3 years 0 months
D) 4 years 0 months