A company financial analyst estimates that a project that will cost $150,000 will return the following cash flow:

Year 1 $45,000

Year 2 $55,000

Year 3 $60,000

Year 4 $85,000

Year 5 $90,000

Calculate the discounted payback period if required rate of return is 10%

A. 4 years

B. 3.32 years

C. 3.58 years

D. 3 years