An investment project costs $15,700 and has annual cash flows of $3,800 for six years.

a. What is the discounted payback period if the discount rate is zero percent?

4.13

4.21

4.05

4.48

3.78

b. What is the discounted payback period if the discount rate is 6 percent?

4.89

4.99

4.79

5.24

4.54

c. What is the discounted payback period if the discount rate is 22 percent?

Never

1.02

3.98

3.35

4.35