Boeing has decided to develop an all electric plane that will travel short distances (500 miles). The development will take place over 3 years starting now: Current year spending on initial development will be $14,000,000. Following year spending on Prototype testing will be $34,000,000 Next year spending on Plane building capacity will be $82,000,000 After the 3 years, they think they can sell planes starting with 20 planes per year, 40 planes in the following year, and 60 planes per year after that indefinitely. If each plane has a profit margin of $450,000, when will they achieve their discounted payback period if their company MARR is 6.5%?

Discounted Payback Period = ?? (Please solve and show work on Excel)