问一道题：NO.PZ2016021705000006

问题如下：

Kim Corporation is considering an investment of 750 million won with expected after-tax cash inflows of 175 million won per year for seven years. The required rate of return is 10 percent. Expressed in years, the project’s payback period and discounted payback period, respectively, are closest to:

选项：

4.3 years and 5.4 years.

4.3 years and 5.9 years.

4.8 years and 6.3 years.

解释：

B is correct.

The payback period is between four and five years. The payback period is four years plus 50/175 = 0.29 of the fifth year cash flow, or 4.29 years.

The discounted payback period is between five and six years. The discounted payback period is five years plus 86.61/98.78 = 0.88 of the sixth year cash flow, or 5.88 years.