J&J Enterprises Is Considering an Investment That Will Cost $318,000

J&J Enterprises is considering an investment that will cost $318,000.The investment produces no cash flows for the first year.In the second year,the cash inflow is $47,000.This inflow will increase to $198,000 and then $226,000 for the following two years,respectively,before ceasing permanently.The firm requires a 15.5 percent rate of return and has a required discounted payback period of three years.Should the project be accepted? Why or why not?

A) accept; The discounted payback period is 2.18 years.
B) accept; The discounted payback period is 2.32 years.
C) accept; The discounted payback period is 2.98 years.
D) reject; The discounted payback period is 2.18 years.
E) reject; The project never pays back on a discounted basis.