6) You are considering a project that requires an initial investment of $120,000 with a cost of capital of 9%. You expect the project to have a five-year life, and produce cash flows of $18,000 in year 1, $44,000 in year 2, $63,000 in year 3, $29,000 in year 4 and $12,000 in year 5.

What is this projects Discounted Payback Period?

A) 3.96 years

B) 3.91years

C) 3.87 years

D) 3.28 years