Problem:
An investment project has annual cash inflows of $3,400, $4,300, $5,500, and $4,700, and a discount rate of 13 percent.
Requirement:
Question 1: What is the discounted payback period for these cash flows if the initial cost is $6,100?
Question 2: What is the discounted payback period for these cash flows if the initial cost is $8,200?
Question 3: What is the discounted payback period for these cash flows if the initial cost is $11,200?
Note: Please provide equation and explain comprehensively and give step by step solution.