Craig's Car Wash Inc A) 188 Years
B) 2

Multiple Choice

Craig's Car Wash Inc.is considering a project that has the following cash flow and cost of capital (r) data.What is the project's discounted payback? $$\begin{array} { l c c c c } & r = 10.00 \% & & & \\\text { Year } & 0 & 1 & 2 & 3 \\\hline \text { Cash flows } & - \$ 900 & \$ 500 & \$ 500 & \$ 500\end{array}$$

A) 1.88 years
B) 2.09 years
C) 2.29 years
D) 2.52 years
E) 2.78 years