Discounted payback period. Given the following two projects and their cash flows, , calculate the discounted payback period with a discount rate of 4%,12%, and 20%. What do you notice about the payback period as the discount rate rises? Explain this relationship. With a discount rate of 4%, the cash outflow for project A is: (Select the best response.) A. recovered in 3 years. B. recovered in 5 years. C. recovered in 3.03 years. D. never fully recovered. Data table (Click on the following icon in order to copy its contents into a spreadsheet.)