You are considering a project that requires an initial investment of $110,000 with a cost of capital of 8%. You expect the project to have a five-year life, and produce cash flows of $19,000 in year 1, $38,000 in year 2, $58,000 in year 3, $29,000 in year 4 and $10,000 in year 5.

What is this projects Discounted Payback Period?

Group of answer choices

A. 3.96 years

B. 2.91years

C. 3.65 years

D. 3.28 years