Question $3$

Use the information to answer the following questions. A company is analyzing an

independent project, S$,$ whose cash flows are shown below:

The company's cost of capital is $12\%,$ and it can get an unlimited amount of capital

at that cost. What is the discounted payback period for Project S$?$

$3\mathrm{.}05$ years

$2\mathrm{.}67$ years

$2\mathrm{.}99$ years

$2\mathrm{.}33$ years

$3\mathrm{.}20$ years