A company is considering a project with an initial cost of $$49,000$ and expected net cash flows of $$19,500$ per year. The project$$s cost of capital is $11\mathrm{.}50\%.$

What is the discounted payback period for this project? $($Please do steps so I can follow with a TI$84$ calculator$)$

Choices

A$)3\mathrm{.}14$ years

B$)3\mathrm{.}21$ years

C$)3\mathrm{.}32$ years

D$)3\mathrm{.}47$ years