Scott is considering a project that will produce cash inflows of $2,100 a year for 4 years. The project has a 12 percent required rate of return and an initial cost of $6,000. What is the discounted payback period?
Please show work, thanks :)
Options:
a) 3.72 years
b) 3.91 years
c) 4.26 years
d) 4.38 years