A Project Has an Initial Cost of $18,400 and Produces

Multiple Choice

A project has an initial cost of $18,400 and produces cash inflows of $7,200,$8,900,and $7,500 over three years,respectively.What is the discounted payback period if the required rate of return is 16 percent?

A) 2.31 years
B) 2.45 years
C) 2.55 years
D) 2.62 years
E) never