A Project Has an Initial Cost of $8,500 and Produces

Multiple Choice

A project has an initial cost of $8,500 and produces cash inflows of $2,700,$4,800,and $1,600 over the next three years,respectively.What is the discounted payback period if the required rate of return is 8%?

A) 2.13 years
B) 2.33 years
C) 2.67 years
D) 2.91 years
E) Never