An investment project has annual cash inflows of $6,100, $7,200, $8,000 for the next four years, respectively, and $9,300, and a discount rate of 17 percent.

What is the discounted payback period for these cash flows if the initial cost is $9,500?

Multiple Choice

• 3.62 years

• 0.81 years

• 1.81 years

• 1.31 years

• 2.56 years