[CLO-1] A prolect has an initial cost of 18,400 and produces cash intlows of 7,200,8,900, and 7,500 over three years, respectively. What is the discounted payback period if the required rate of return is 16 per cent? 3.255 yean. b. 2.62 years. c. 2.31 years. d. 2.45 years. e Never