15. A small investment costs $22,000 and is expected to return $9,000 in Year 1, $12,000 in Year 2, and $7,000 in Year 3, and then be worthless. The discount rate is 10.0 percent. What is the payback period for this investment?

2 years

2.14 years (correct)

2.74 years

2.86 years

Please show a detailed explanation the correct answer is provided. If you could please demonstrate it in excel with the functions