A project has an initial cost of $18,400 and expected cash inflows of $7,200, $8,900, and $7,500 over Years 1 to 3, respectively. What is the discounted payback period if the required rate of return is 11.2 percent?

A) 2.31 years

B) 2.45 years

C) 2.55 years

D) 2.87 years

E) Never

Please show work with Finanical Cauclator Steps.