The following four-year project has an initial cost of $1,000,000. The future cash inflows for the next four years are $600,000, $500,000, $400,000, and $400,000, respectively. If the rate of return is 12%, determine the discounted payback period for this project. Multiple Choice 2.23 years 1.94 years O O 2.74 years o 2.44 years O 1.74 years