An investment project has annual cash inflows of $5,000, $6,100, $6,900, and $8,200, and a discount rate of 17 percent.

Required:

What is the discounted payback period for these cash flows if the initial cost is $8,000? (Do not round your intermediate calculations.)

0.84 years

1.34 years

1.84 years

2.59 years

3.68 years