Using the information provided below and assuming the cash flows occur at a constant rate each year, calculate the discounted payback period for Project A

undiscounted free cash flow discounted free cash flow at 15% Cumulative discoundted free cash flow

Initial outlay ($11,000.00) ($11,000.00) ($11,000.00)

Cash flow yr 1 9,000.00 $7,826.09 ($3,173.91)

2 6,000 $4,536.86 $1,362.95

3 3,000 $1,972.55 $3,335.50

4. 1,000 $571.75 $3,907.25

A. 0.3 years

B. 1.7 years

C. 2 years

D. 1.2 years