An investment project has annual cash inflows of $5,800, $6,900, $7,700, and $9,000, and a discount rate of 14 percent. Required: What is the discounted payback period for these cash flows if the initial cost is $9,000? (Do not round your intermediate calculations.)

1.24 years

2.49 years

3.48 years

0.74 years

1.74 years