A company is considering investing $90,000 in a project with the following anticipated net cash flows:

Year 1: $19,000
Year 2: $12,000
Year 3: $14,000
Year 4: $22,000
Year 5: $17,000
Year 6: $13,000
Year 7: $8,000
In what year will payback occur?

a. Year 5
b. Year 7
c. Year 6
d. Year 4