An investment project has an initial cost of $382, and cash flows $105, $130, $150, and $150 for Years 1 to 4, respectively. The cost of capital is 9 percent. What is the discounted payback period?

Answer and working in the form of: "we are expected to clearly write down the important formulas (E.g. present value or future value formula, IRR, NPV, etc.) in letters and substitute numbers into formulas in separate steps"

Thank you in advance