The management team is considering two hotel projects. Project A will be in Jamaica with an initial investment of $$985,000$ and Project B will be in Canada with an initial investment of $$850,000.$

Years Project A Project B

$1$ $$350,000\mathrm{.}00$ $$457,000\mathrm{.}00$

$2$ $$575,000\mathrm{.}00$ $$500,000\mathrm{.}00$

$3($$$53,000\mathrm{.}00)($$$100,000\mathrm{.}00)$

$4$ $$880,000\mathrm{.}00$ $$780,000\mathrm{.}00$

The cost of capital for Project A is $15\%$ and the cost of capital for project B is $13\%.$ Calculate the Discounted Payback Period for Project A

a$.$

$4\mathrm{.}5$ years

b$.$

$3\mathrm{.}3$ years

c$.$

$3\mathrm{.}6$ years

d$.$

$5\mathrm{.}4$ years