What is the discounted payback period of a project requiring an initial investment of $12,000 and producing daily positive cash flows that are

What is the discounted payback period of a project requiring an initial investment of $12,000 and producing daily positive cash flows that are summarized as $7000 at the end of each of the next 4 years (i.e., t = 1, t = 2, t=3, and t = 4). Assume the cost of capital is 17% per year. Choose the closest to answer.

a.  1.71 years

b.  2.79 years

c.   2.26 years

d.  2.21 years