A firm with a 13 percent cost of capital is considering a project for this year's capital budget. The project's expected after-tax cash flows are as follows:
Year: 0 1 2 3 4
CAsh flow: -$7,000 $2,900 $3,000 $3,400 $2,700
Calculate the project's discounted payback period
A. 2.88 years B. 2.00 years C. 3.00 years D. 2.50 years E. 2.12 years