Company Whiskey is looking at a project requiring a $15,000 investment which, in turn, will generate the following cash flows: year-1 $1,750; year-2 $4,000; year-3 $5,200; year-4 $10,000. The firm's cost of capital is 10.5%. What is the discounted payback period or this project? (Select correct answer & show work)

a.) 3.9 years

b.) This project does not have a payback

c.) 3.1 years

d.) 3.4 years