Project K has an initial cost of $$48,572,$ and its expected net cash inflows are $$14,250$ per year for $6$ years. The firm has a WACC of $12$ percent, and Project K$$s risk would be similar to that of the firm$$s existing assets. Calculate the discounted payback period of Project K$.$

a$.$

$4\mathrm{.}00$ years

b$.$

$4\mathrm{.}65$ years

c$.$

$5\mathrm{.}00$ years

d$.$

$4\mathrm{.}09$ years

e$.$

$4\mathrm{.}47$ years