Simon and Sons is considering a project that has the following cash flow and cost of capital (r) data. What is the project's discounted payback? r = 8.00% Year 0 1 2 3 4 Cash flows $1,600 $500 $525 $550 $575 Group of answer choices 3.9 years 3.1 years 2.5 years 2.8 years 3.6 years