A project has an initial cost of $700. Incremental cash flow…

A project has an initial cost of $700. Incremental cash flows are estimated to be $170 each year for 6 years. Using a discount rate of 8% (provided in the table below), calculate the discounted payback period. (Answers may vary slightly if you use excel or different PVIF values).   Year Incremental  Cash flow PVIF Discounted Cash Flow Cumulative cash Flow 0         1   .926     2   .857     3   .794     4   .735     5   .681     6   .630