A project is projected to cost $2,000,000 to undertake. It will generate positive cash inflows as follows: Year 1 - $400,000; Year 2 500,000; Year 3 - $650,000; Year 4 750,000; Year 5 800,000. What is the projects discounted payback, given a 10% required rate of return?

Select one:

a. 4.45 years

b. 4.82 years

c. 4.92 years

d. 5.0 years

e. Discounted payback does not occur