An investment project has annual cash inflows of $4,300, $5,400, $6,200, and $7,500, and a discount rate of 10 percent.

Required:

What is the discounted payback period for these cash flows if the initial cost is $7,500? (Do not round your intermediate calculations.)

a. 0.80 years b. 2.55 years c. 1.30 years d. 1.80 years e. 3.60 years