Bill plans to open a do$-$it$-$yourself dog bathing center in a storefront. The bathing equipment will cost $$150,000.$ Bill expects the after$-$tax cash inflows to be $$60,000$ annually for seven years, after which he plans to scrap the equipment and retire to the beaches of Jamaica. Assume the required return is $10\%.$ What is the project's discounted payback period $($nearest year$)?$

Select one:

a$.$

seven years

b$.$

five years

c$.$

three years

d$.$

six years