Suppose a project has the following cashflows and the discount rate (required return) is 11%. The project's discounted cumulative cashflow turns positive between year 4 and 5 , to be precise it is 4.22 The project's discounted cumulative cashflow turns positive between year 3 and 4 , to be precise it is 3.50 The project's discounted cumulative cashflow turns positive between year 4 and 5 , to be precise it is 4.12 The project's discounted cumulative cashflow turns positive between year 3 and 4 , to be precise it is 3.59