Question) A project has an initial cost of $10,800 and produces cash inflows of $4,100, $4,800, and $5,600 over Years 1 to 3, respectively. What is the discounted payback period if the required rate of return is 11 percent?

Multiple Choice Answers) Please answer and Explain!

a) 2.13 years

b) 2.34 years

c) 2.78 years

d) 2.91 years

e) Never