A firm with a 10 percent cost of capital is considering a project for this years capital budget. The projects expected after-tax cash flows are as follows:

Year:	0	1	2	3	4
Cash flow:	-$5,000	$2,100	$2,300	$2,300	$1,900

Calculate the projects discounted payback period.

	a.	2.31 years
	b.	2.69 years
	c.	2.00 years
	d.	3.00 years
	e.	2.50 years