Compute the discounted payback statistic for Project C if the appropriate cost of capital is 9 percent and the maximum allowable discounted payback period is three years.

Note: 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:	$ 1,200	$ 560	$ 540	$ 580	$ 340	$ 140

Discounted Payback Period "___" years