Jenifer is considering the following project for her company. The initial investment in equipment would be $500,000 with a life span of 5 years. Then annual cost savings would be $160,000 each year and the savage value in year 5 would be $30,000. The companys discount tax rate is 13% and tax rate is 34%. The equipment would be completely depreciated over its life span assuming straight-line depreciation. What would be the closest discounted payback period? A. 7 years B. 5 years C. 4 years D. 3 years E. 2 years