A firm with a 9.5 percent cost of capital is considering a project for this year's budget. The project's expected after-tax cash flows are as follows:
Year: 0 1 2 3 4
CAsh flow: -$9,000 $3,800 $4,200 $4,300 $4,200
Calculate the project's discounted payback period:
A. 2.62 years
B. 2.00 years
C. 3.00 years
D. 2.50 years
E. 2.38 years