4. SK Manufacturing Company uses discounted payback period to evaluate investments in capital assets. The company expects the following annual cash flows from an investment of $3,500,000. No salvage/residual value is expected. The company's cost of capital is 12%. Years Cash flows 0 $(3,500,000) 1 900,000 2 900,000 3 900,000 4 900,000 5 900,000 6 900,000 7 900,000 8 900,000 Required: A. Compute discounted payback period of the investment up-to 6 years. B. Is the investment desirable if the required payback period is 4 years or less