Problem:
An investment project costs $21,500 and has annual cash flows of $6,500 for 6 years.
Requirement:
Question: If the discount rate is 15 percent, what is the discounted payback period?
a. 4.41 years
b. 4.91 years
c. 5.12 years
d. 5.40 years
e. never
Note: Please show guided help with steps and answer.