A 25- Year Project Has a Cost of $1,500,000 and Has

Multiple Choice

A 25- year project has a cost of $1,500,000 and has annual cash flows of $400,000 in years 1-15, and $200,000 in years 16-25. The company's required rate is 14%. Given this information, calculate the discounted payback of the project.

A) 5.5 years
B) 5.70 years
C) 5.90 years
D) 6.10 years
E) 6.30 years