A Project Has an Initial Cost of $12,300 and Produces

Multiple Choice

A project has an initial cost of $12,300 and produces cash inflows of $5,200,$5,300,and $4,800 over Years 1 to 3,respectively.What is the discounted payback period if the required rate of return is 12 percent?

A) 2) 13 years
B) 2) 34 years
C) 2) 78 years
D) 2) 91 years
E) Never