p 10- 2

An investment project has annual cash inflows of $6,200, $7,300, $8,100 for the next four years, respectively, and $9,400, and a discount rate of 18 percent. What is the discounted payback period for these cash flows if the initial cost is $9,500? Multiple Choice 1.31 years 3.62 years 2.56 years 1.81 years 0.81 years