MC Qu. 78 A project has an initial cost of $icos... A project has an initial cost of $8,700 and produces cash inflows of $2,700, $4,900, and $1,700 over the next three years, respectively. What is the discounted payback period if the required rate of return is 7 percent?

A:2.16 years

B:never

C:2.29 years

D:2.94 years

E:2.65 years