= Waco Coastlands Company is considering the purchase of land and the construction of a new plant. The land, which would be bought immediately (at t = 0), has a cost of $100,000 and the building, which would be erected at the end of the first year (t = 1), would cost $250,000. From Year 2 through 5, it is estimated that the firm's cash flow will be $145,000 each year. What is the project's discounted Payback period if it requires a 12 percent return on the project? 3.80 years 3.42 years 4.15 years 4.32 years