Question: The initial outlay or cost for a four - year project is $ 1 , 6 0 0 , 0 0 0 . The respective

The initial outlay or cost for a four-year project is $1,600,000. The respective cash inflows for years 1,2,3 and 4 are: $700,000, $600,000, $500,000 and $400,000. What is the discounted payback period if the discount rate is 8%?
About 3.14 years
About 3.98 years
About 3.67 years
About 3.35 years
About 3.42 years

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