Sal is considering a project that costs $15,000. The project produces cash inflows of $3,000, $5,000, $7,000, and $3,000 respectively for the next four years. Sal wants to recoup his money within 3 years after applying a 6% discount rate. Sal should:

a)Accept the project because it produces $15,534 on a discounted payback basis.

b)Accept this project because the discounted payback period is 2.78 years.

c)Accept this project because the payback period is exactly 3 years.

d)Reject this project because the payback period is 2.78 years.

e)Reject this project because the discounted payback period is 3.78 years