Becker Inc. uses discounted payback period for projects under $25,000 and has a cut off period of four years for these small-value projects. Two projects, R and S, are under consideration. The anticipated cash flows are listed in the following table. Cash Flow Project R Project S Initial cost $24,000 $18,000 Cash flow year 1- $ 6,000 $ 9,000 Cash flow year 2 $ 8,000 $ 6,000 Cash flow year 3 $10,000 $ 6,000 Cash flow year 4 $12,000 $ 3,000 What is the discounted payback for project R with an 8% discount rate? 2.88 4.15 3.77 3.41 3.19