Compute the discounted payback statistic for Project C if the appropriate cost of capital is 8 percent and the maximum allowable discounted payback period is three years. (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Project C
Time	0	1	2	3	4	5
Cash Flow	-1,000.00	480.00	480.00	520.00	300.00	100.00